Cannonball Research Upgrades World Wrestling Entertainment (WWE) to Buy

Cannonball Research analyst Vasily Karasyov upgraded World Wrestling Entertainment (NYSE: WWE) from Neutral to Buy with a price target of $95.00 (from $78.00).

The analyst believes the pullback coupled with the proximity of FY 2019 where significant acceleration in Adj. EBITDA growth is expected creates a buying opportunity.

The analyst further comments "We think that our earnings estimates leave room for upside and our expectation of EV/NTM Ebitda mean-reversion to 15x from the current 37x is a conservative valuation case."

For an analyst ratings summary and ratings history on World Wrestling Entertainment click here. For more ratings news on World Wrestling Entertainment click here.

Shares of World Wrestling Entertainment closed at $82.68 yesterday.

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