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Fly News Breaks for February 7, 2020
WWE
Feb 7, 2020 | 08:38 EDT
Benchmark analyst Mike Hickey said WWE delivered "a considerably weak FY20 OIBDA range" along with its Q4 report, which also disappointed, given uncertainty around international content agreements and an increase in investments. The recent management shake-up and profitability shortfall has shaken investor confidence, but he views this as a clearing event and would "position opportunistically" for the long-term. The analyst, who still thinks WWE offers an investment opportunity with significant upside, keeps a Buy rating on the stock but lowered his price target on the shares to $57 from $79.
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