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Fly News Breaks for February 7, 2020
WWE
Feb 7, 2020 | 09:33 EDT
Wolfe Research analyst Eric Katz downgraded WWE to Peer Perform from Outperform with a price target of $45, down from $97, telling investors that he " just can't get comfortable with the strategy, management, or numbers at these levels" following the company's earnings and guidance. While a "transformational" shift in the WWE Network strategy may be "what's best for business," we don't know what it is yet and there is too much uncertainty around the plan at this point, Katz added.
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