Churchill Downs Incorporated (NASDAQ:CHDN) is considered one of the most undervalued NASDAQ stocks to buy now, with JMP Securities reiterating a Market Outperform rating and price target of $142 on September 16. The company is trading at 9.4x 2027 expected EBITDA, lower than its long-term average of 11.7x.

JMP Securities identified triggers for CHDN’s stock performance before the 2026 Kentucky Derby, including historical racing machines, financing decisions, and expected return on invested capital. The firm anticipates significant year-over-year growth for the racecourse and casino company.

Churchill Downs Incorporated (NASDAQ:CHDN) operates in the gambling sector, offering online betting, gaming, and racing. The company is divided into three business divisions: live and historical racing, wagering services, and gaming.

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Disclosure: None. This article was originally published on Insider Monkey.

Read more at Yahoo Finance: JMP Securities Reiterates Bullish Outlook on Churchill Downs (CHDN) Ahead of Kentucky Derby