Bettors may be inclined to see the Grade 1 Queen Elizabeth II Challenge Cup on Saturday at Keeneland as a three-horse race. That’s fine by me as that just means likely value on at least one of the two I see as having the best shots.

She Feels Pretty is the 5-2 favorite on the morning line after a couple of graded-stakes placings following a win in the Hilltop Stakes three back. I don’t see much fear of her going lower than that given the money she has burned in her last two starts. They were solid efforts but losses nevertheless and at odds-on to boot.

Soprano just missed behind a couple of good ones in the Matron Stakes (G1) last out at Leopardstown. Her Brisnet class ratings are the best of this group, and a Group 3 win earlier this year at Royal Ascot has to figure well against these.

Candala is the 9-2 third choice on the morning line, and her international flare is likely to attract money, but Brisnet class ratings say Soprano is definitely better. She has run only on soft ground, and the outside post is only 3-for-61 in nine-furlong turf races at Keeneland with 10-12 starters.

Grayosh beat She Feels Pretty last time, but that was a great trip, and now she goes from the rail in an eight-horse race to post 9 in a 10-horse tilt.

I think She Feels Pretty and Soprano cover this race from a multi-race standpoint, but suggesting using the top two choices is kind of cringe. If other races have beatable favorites, then I can get behind the two-ply lean here. Otherwise, I think I lean toward Soprano being the better value as a single. Obviously once we get to race 7, the start of the early Pick 4, we can make decisions based on double will-pays.

Vertically, I’m going to favor whichever of the pair is the bigger overlay while hoping one of the horses in the 10-1 to 15-1 range on my fair odds drifts up and can be my long shot key.