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WWE price target raised to $68 from $46 at MKM Partners.

MKM Partners analyst Eric Handler raised his price target on WWE to $68, saying the stock has "significant upside potential" amid press reports of pricing for the company's new U.S. TV deals. The analyst notes that WWE is close to signing a 5-year domestic contract for Raw and Smackdown programming with estimated value of $1.9B-$2.1B, which is up from $640M current value and "well ahead" of his forecast of $1.2B. Handler adds that his forecasts from the upcoming UK and India rights renewal are also excluded from his model, stating there is additional upside potential for the shares while keeping his Buy rating on WWE.

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Publication:The Fly
Date:May 22, 2018
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