Shares of Churchill Downs fell 5.2% in the afternoon session after Mizuho analyst Ben Chaiken lowered his price target on the stock to $125 from $157 while keeping an Outperform rating. Chaiken cited continued headwinds in Virginia from new gaming supply, and cut his full-year EBITDA estimate to $1.24 billion from $1.247 billion, below the Street's $1.252 billion. The stock is down 33.9% since the start of the year and trades at $73.99, 37.1% below its 52-week high of $117.59 set in December 2025.
Churchill Downs IncorporatedMizuho cut its price target on Churchill Downs to $125 from $157 and lowered full-year EBITDA estimates, citing Virginia gaming supply headwinds.
