World Wrestling Entertainment is ‘among the safest plays in media now,’ says analyst

World Wrestling Entertainment Inc. shares have been climbing since last week, when it signed new five-year deals with Comcast Corp.’s USA Network and 21st Century Fox’s Fox Sports. But analysts at BTIG Research say the stock still has ample room to run, raising their price target to $92 from $75, or 21% above its current level.

Under the new deals, “WWE SmackDown Live” will air on FoxFOXA, +0.73% while “RAW” will continue showing on USA Network, which is owned by NBCUniversal, a subsidiary of Comcast Corp CMCSA, +1.10% The two programs currently air on USA Network. The deal more than tripled the fees WWE WWE, +1.27% was receiving before.

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