Churchill Downs - Sports betting provider benefits from rising consumer spending!
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Business driver. Churchill Downs (CHDN) is one of the oldest players in the entertainment and gambling industry in the USA. Among other events, it hosts the famous Kentucky Derby, which has been held since 1875. Additionally, Churchill Downs is one of the leading gambling providers and operators of online and horse betting. As consumer spending begins to rise significantly, Churchill Downs' core business is expected to benefit. On November 18, Wells Fargo initiated coverage with an "Overweight" rating and a price target of $115!
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