【巴克莱-2025研究报告】CHDN(CHDN):雨下倾盆时:德比赛事结果同比略有下降,这有些令人失望,但鉴于起跑时的犹豫,也并不太意外。.pdf
EquityResearch
U.S.Gaming,LeisureLodging
5May2025
CHDN
WhenItRainsItPours
FirstLook
Derbyresultsslightlydowny/yisamodestdisappointment,
butnottoosurprisinggiventhehesitationatthestarting
gate.CHDNOVERWEIGHT
U.S.Gaming,LeisurePOSITIVE
Lodging
PriceTargetUSD124.00
CHDNreleasedoperationalresultsforthe151stKentuckyDerby,andexpectsadjustedEBITDA
Price(02-May-25)USD93.23
fortheweektobedown$2to$4mfromlastyear.Thisismodestlydisappointingvs.the
PotentialUpside/Downside+33.0%
“flattish”expectation,howevergivenpoorweather,andpreemptive/cautiousco