Churchill Downs price target raised to $145 from $140 at Truist

Truist analyst Barry Jonas raised the firm’s price target on Churchill Downs to $145 from $140 and keeps a Buy rating on the shares. The firm cites the company’s “strong” Q1 earnings beat while noting that it continues to see the existing portfolio generating about $1.4B EBITDA once fully open and ramped by 2025/26. Churchill Downs’ potential upside from Historical Racing Machines is further enhanced by its Exacta optimizations, the analyst tells investors in a research note.