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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 09:18 EDT
Loop Capital analyst Alan Gould lowered his price target on WWE to $43 and kept his Hold rating after the company's "very disappointing" 2020 guidance and indicated consideration to sell its WWE Network. The analyst notes that the deal would be "transformative" to WWE, but also sees the outcome as "binary" depending on whether the sale proceeds. On pure fundamentals, Gould adds that WWE shares could trade at a 10-times expected OIBDA multiple which, at $36 per share would still be a premium to most media companies.
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