Citi upgrades struggling WWE, says upside from here 'looks attractive'

WWE SmackDown World Tour
Joern Pollex | Bongarts | Getty Images

The upside case for World Wrestling Entertainment's stock far outweighs the downside, according to Citi.

The firm upgraded the struggling stock to buy from neutral, saying the risk-reward "looks attractive" and "compelling." Citi calculates WWE only has 15% more to fall in a downside scenario, while the shares have 45% upside.