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Fly News Breaks for December 12, 2019
WSG
Dec 12, 2019 | 07:59 EDT
Loop Capital analyst Allan Gould downgraded Wanda Sports to Hold from Buy with a price target of $4, down from $7. The analyst notes that the company's Q4 EBITDA could miss guidance amid continued softness in North American running events and he is also concerned about its ability to refinance its 11.5% bridge loan. In spite of the attractive profile for GARP investors, Gould says he would only reconsider his stance if Wanda Sports can lower its cost of capital and successfully reposition its Rock'n'Roll brand while growing its sponsorship base.
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