WWE can rake in billions with these deals
The WWE has already conquered professional wrestling and now, with recent content deals, founder Vince McMahon has an opportunity to body slam stock prices.
WWE stock is up 151% already this year, but a team of analysts at Morgan Stanley expect shares to go even higher.
The firm announced that it was raising its price target on the company to $100 from $58 after they struck deals with NBCUniversal and FOX Sports last month for its programs “Monday Night Raw” and “SmackDown Live,” which kicks off in October 2019.
“This is a company that is firing on all cylinders,” Jeff Sica of Circle Squared Investments told FOX Business’ Stuart Varney on “Varney & Co.” on Monday. “They are going into music. They are going into movies … in the next three to five years they can make up to half a billion dollars a year on these content deals.”