Churchill Downs sees 3% increase in Derby handle and 37.7% upside forecast
Analysts maintained an Overweight rating and upgraded the stock to a #2 (Buy) ranking based on rising earnings estimates. At the 152nd Kentucky Derby, the all-sources handle reached $487 million, up 3%, while Wall Street expects a 37.7% price rally to an average target of $137.08.
1. Analyst Ratings and Price Targets
Analysts reaffirmed an Overweight rating and elevated the company to a #2 (Buy) ranking based on upward revisions to earnings forecasts. Twelve analysts project a 37.7% rally to a mean price target of $137.08, with individual targets ranging from $110.00 to $155.00.
2. Kentucky Derby Record Handle
During the 152nd Kentucky Derby Week, total wagering climbed to $487 million, marking a 3% increase over the prior year’s record. This all-sources handle reflects growing engagement across horse racing, casino gaming and online betting operations.
3. Recent Share Performance
Shares have risen 10.8% over the past four weeks, trading near $91.83 versus a 52-week high of $118.46. Continued momentum and positive forecasts could influence near-term volatility and longer-term valuation.