WWE downgraded to Neutral on valuation at Northcoast

Northcoast analyst John Healy downgraded WWE to Neutral from Buy without a price target. The analyst cites valuation for the downgrade, highlighting the stock’s year-to-date outperformance 6,000 basis points relative to the market. Given this move, along with increased speculation relating to “what may come next” for the company, the shares have arrived at “fair value,” Healy tells investors in a research note. The analyst now sees a more balanced risk/reward dynamic in the near- to medium-term.

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