Vertical Group Downgrades World Wrestling Entertainment (WWE) to Neutral

Vertical Group downgraded World Wrestling Entertainment (NYSE: WWE) from Buy to Neutral.

Analyst Kim Opiatowski said, "Based on Thursday’s announcement, the new TV Rights contract was signed at a lower rate than we expected, leaving WWE’s prospects for OIBDA growth now resting primarily on the performance of the network. As a result, WWE is no longer an appropriate candidate for our event driven framework and we are downgrading the stock to neutral. We note that our rating definition of neutral is NOT a hold. Instead it means that we would not recommend that clients either buy or sell the stock at this time and we will wait until data points emerge which change our view."

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 $10.96 yesterday.

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