WWE, UFC reported deal implies $102/share, says Wells Fargo

Wells Fargo analyst Steven Cahall notes that news sources say a deal for WWE (WWE) is imminent, and thinks the reported values imply $102/share. The firm expects Endeavor Group (EDR) to talk synergies, and does not expect a counter-bid. Wells would view a deal with Endeavor favorably for WWE. The firm has an Equal Weight rating on WWE shares with a price target of $100.