WWE -2.2% as JPMorgan heads to sidelines [Seeking Alpha]
World Wrestling Entertainment, Inc. Class A (WWE)
Last world wrestling entertainment, inc. class a earnings: 4/23 04:10 pm
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corporate.wwe.com/investors/investor-overview
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Source: Seeking Alpha
WWE -2.2% as JPMorgan heads to sidelinesWorld Wrestling Entertainment (NYSE:WWE) is2.2% lower after JPMorgan downgraded it to Neutral from Overweight."We are comfortable moving to the sidelines" given a risk/reward profile of -27%/+34%, says analyst David Karnovsky, who doesn't see a high enough step-up in rights fees, though he thinks NBCUniversal is interested in renewing. (h/t Bloomberg)WWE is expected to to announce a new distribution deal later this year, with rights currently expiring in 2019.The firm lifted its price target to $39 from $37; shares are at $38.62 currently.See all stocks on the move »Now read:World Wrestling Entertainment (WWE) Highlights & Milestones & 2018 Business Outlook - Slideshow »
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