Wells Fargo Raises Churchill Downs (CHDN) Target, Sees Stable Gaming Trends Into 2026

Churchill Downs Incorporated (NASDAQ:CHDN) is included among the 10 Fastest Growing Dividend Stocks to Buy Now.

Wells Fargo Raises Churchill Downs (CHDN) Target, Sees Stable Gaming Trends Into 2026

On April 16, Wells Fargo raised its price recommendation on Churchill Downs Incorporated (NASDAQ:CHDN) to $130 from $124. It reiterated an Overweight rating on the shares. The firm said its long-term view on U.S. land-based gaming remains unchanged. In its 2026 outlook, it noted that a stable regional supply environment could help normalize promotional spending. It also expects land-based gaming to continue losing share to digital gaming, which should more than offset that benefit. Wells Fargo said it prefers operators with full-platform exposure, competitive advantages, or development opportunities. It added that it remains generally in line with the Street on Regional EBITDA/R, supported by solid Q1 gaming trends.

On April 6, Jefferies lowered its price target on Churchill Downs to $139 from $143 and maintained a Buy rating. The analyst said that with most markets facing headwinds through the year, the firm remains “highly selective across land-based gaming,” while updating estimates across its casino gaming coverage.

Churchill Downs Incorporated (NASDAQ:CHDN) operates as a racing, online wagering, and gaming entertainment company. It is anchored by its flagship event, the Kentucky Derby. The company runs its business through three segments: Live and Historical Racing, Wagering Services and Solutions, and Gaming.

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