World Wrestling Entertainment (WWE) PT Raised to $105 at Guggenheim
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Guggenheim remains bullish on WWE’s renewal cycle
February 3, 2023 1:21 PM ESTGuggenheim reiterated a Buy rating on World Wrestling Entertainment, Inc. (NYSE: WWE), and raised the price target on the stock to $105.00 (From $94.00) as the sports entertainment company enters the early stages of a strategic review. Guggenheim remains bullish on the companys U.S. renewal cycle as business trends remain strong.
WWE reported 2022 OIBDA of $385mm at the high end of guidance ($370-385mm) and slightly below Guggenheims $390mm outlook. Management issued 2023 OIBDA guidance of $395-410mm, driven by record revenue and relative flat operating... More
