Correction: Wolfe Research downgrades WWE, says resistance to Vince McMahon's return could mean trouble ahead
Investors hoping the recent leadership shakeup at WWE would be a knock-out may instead find themselves getting body slammed, Wolfe Research warned. Analyst Peter Supino downgraded the stock to peer perform from outperform. Supino also removed his price target of $111 per share. That target was 30% above Monday's closing price of $84.95.
Supino said the resignation bolsters his perception of instability at the company, especially when paired with the return of prior board members who resigned in 2020. He said Stephanie sounded fully committed to the role before her father's return, so her resignation could signal a rebuke of Vince or that she wanted to free her equity stake from employment binds.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wolfe Research downgrades WWE, says resistance to Vince Mahon's return could mean trouble aheadThe firm downgraded the stock to peer perform from outperform and removed its price target.
Read more »
Buffy, WWE Royal Rumble, Arrowverse, TLOU, More: BCTV Daily DispatchIn today's BCTV Daily Dispatch: WWE RoyalRumble, Buffy TVS, TheLastOfUs, Arrowverse/Jon Cryer, JamesGunn/Amanda Waller, DoctorWho, HowIMetYourFather, MayorOfKingstown, SNL, HilaryDuff/Lizzie McGuire, AEW Rampage, ArcherFXX, and more!
Read more »
WWE legend Ric Flair implores Brock Purdy to play through injury: 'I crashed in an airplane'WWE legend Ric Flair urged Brock Purdy to get into the NFC Championship Game and used his own experience from a plane crash to illustrate just how serious he was.
Read more »
Royal Rumble 2023 Nets Record-Breaking $7.7 Million Gate for WWEWWE’s 2023 Royal Rumble has broken the annual pay-per-view’s records for the live event gate and viewership, the sports entertainment giant announced Monday. The Royal Rumble, emanating…
Read more »
Photos: WWE breaks viewership record with Royal Rumble at AlamodomeThe Alamodome welcomed thousands of wrestling fans on Saturday when WWE’s Royal Rumble rolled into San Antonio.
Read more »