Churchill Downs Incorporated (NASDAQ:CHDN) ranks among the most undervalued NASDAQ stocks to buy now. On September 16, JMP Securities reiterated its Market Outperform rating for Churchill Downs Incorporated (NASDAQ:CHDN) along with a price target of $142. The firm maintained its optimistic outlook for the racecourse and casino company, saying that Churchill Downs Incorporated is currently trading at 9.4x 2027 expected EBITDA, which is lower than its long-term average of 11.7x.
JMP identified numerous potential triggers for the stock’s performance before the 2026 Kentucky Derby, which include historical racing machines (HRMs), financing decisions, and expected return on invested capital (ROIC). The firm anticipates that these variables will contribute to substantial year-over-year growth for the company.
Churchill Downs Incorporated is a gambling company that offers online betting, gaming, and racing. It is divided into three business divisions: live and historical racing, wagering services, and gaming.
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This article is originally published at Insider Monkey.
