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Fly News Breaks for February 24, 2020
Feb 24, 2020 | 06:53 EDT
Citi analyst Jason Bazinet lowered the firm's price target on WWE to $60 from $73 but keeps a Buy rating on the shares. Management has indicated that the WWE Network review could be "transformative," Bazinet tells investors in a research note. If a significant change occurs, the analyst suspects it could take the form of WWE licensing its U.S. pay-per-view content to a major media firm. He estimates such a move could translate to a net revenue uplift of $45M to $135M or 4%-11%.
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