Citi upgrades struggling WWE, says upside from right here ‘seems to be enticing’
WWE SmackDown World Tour
Joern Pollex | Bongarts | Getty Photographs
The upside case for World Wrestling Entertainment‘s inventory far outweighs the draw back, based on Citi.
The agency upgraded the struggling inventory to purchase from impartial because the risk-reward “seems to be enticing.” Citi calculates WWE solely has 15% extra to fall in a draw back state of affairs, whereas the shares have 45% upside.
The shares have been struggling as administration hinted at larger spending in 2020 and consensus estimates for working earnings tumbled.