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WWE

WWE

$72.94

1.43 (2.00%)

08:11
06/12/19
06/12
08:11
06/12/19
08:11

WWE has chance to at least double adjusted EBITDA by 2025, says Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne said he expects WWE to announce the outcome of the five international markets where its rights are being marketed at some point later this year, at which time he sees the company giving adjusted EBITDA guidance and comments on capital allocation plans. He estimates 2020 adjusted EBITDA of about $430M, which is below the consensus $450M view, but sees WWE having the opportunity to to at least double adjusted EBITDA by 2025. Swinburne lowered his price target on WWE shares to $90 from $100 on higher expectations for operating expense growth in 2019, but said he thinks the recent share pullback has been overdone and he reiterated an Overweight rating on the stock.

WWE WWE
$72.94

1.43 (2.00%)

05/02/19
LOOP
05/02/19
UPGRADE
LOOP
Buy
WWE upgraded to Buy from Hold at Loop Capital
05/02/19
LOOP
05/02/19
UPGRADE
Target $100
LOOP
Buy
WWE upgraded to Buy from Hold at Loop Capital
Loop Capital analyst Alan Gould upgraded WWE to Buy and raised his price target to $100 from $85, saying he is taking advantage of the recent pullback in the stock price driven by the "temporary" and "unusual" amount of talent injuries. The analyst lowers his FY19 EPS view to 96c to $1.08, but expects the company to recover its double-digit revenue and 30% earnings growth while also citing the management's plans to hold another "highly profitable event in Saudi Arabia."
05/02/19
05/02/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Clorox (CLX) upgraded to Hold from Sell at Deutsche Bank with analyst Steve Powers saying he views the company's fiscal Q3 results as "disappointing" but believes most of his concerns around competition are now more fairly priced into the shares. 2. Arconic (ARNC) upgraded to Buy from Neutral at Goldman Sachs with analyst Matthew Korn saying the company is benefiting from "strategic clarity." 3. Qualcomm (QCOM) was upgraded to Strong Buy from Outperform at Raymond James and to Buy from Neutral at BofA/Merrill. 4. Zynga (ZNGA) upgraded to Outperform from Neutral at Baird with analyst Colin Sebastian saying last night's better than expected Q1 results largely confirm the company's successful turnaround and acquisition strategy, improving organic growth outlook, and its reduced dependence on new game launches. 5. WWE (WWE) upgraded to Buy from Hold at Loop Capital with analyst Alan Gould saying he is taking advantage of the recent pullback in the stock price driven by the "temporary" and "unusual" amount of talent injuries. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/19
MKMP
05/16/19
NO CHANGE
Target $110
MKMP
Buy
WWE shares oversold on 'near-term issues', says MKM Partners
MKM Partners analyst Eric Handler keeps his Buy rating and $110 price target on WWE, saying the 16.5% decline in its stock price over the past month is overextended. The analyst attributes the recent weakness to the more front-loaded than anticipated spending plans going into the "new TV contracts in the majority of its Top 10 markets." However, Handler also sees the expense issues as near-term and still considers WWE "one of the best multi-year growth stories" in his coverage universe.

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