TKO Group Holdings (TKO – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst yesterday. Analyst Stephen Laszczyk from Goldman Sachs maintained a Buy rating on the stock and has a $165.00 price target.
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Stephen Laszczyk has given his Buy rating due to a combination of factors surrounding TKO Group Holdings. A significant reason is the recent announcement of the UFC’s multi-year partnership renewal with Monster Energy, estimated to be worth between $25 million to $30 million annually. This deal is notable as it marks the largest sponsorship agreement in the history of both companies and reflects the strong cultural momentum and growing popularity of mixed martial arts.
Moreover, the contract renewal suggests positive trends for TKO’s sports media properties and indicates continued growth in sports and live entertainment sponsorships, which have been gaining a larger share of advertising spending in recent years. Laszczyk anticipates strong sponsorship renewals for TKO in the future, contributing to the company’s robust business outlook. These elements collectively support the Buy rating for TKO Group Holdings.
In another report released on January 30, Roth MKM also assigned a Buy rating to the stock with a $185.00 price target.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TKO in relation to earlier this year.