Guggenheim raised the firm’s price target on TKO Group (TKO) to $170 from $142 and keeps a Buy rating on the shares after updating the firm’s model and raising the outlook for both 2025 and 2026. The firm’s forecast for the UFC rights renewal remains below the $1B ask that TKO is reportedly seeking, though Guggenheim believes the next renewal will include a hybrid pay-per-view component, “easily justifying a material step-up. The firm, which argues that the integration of WWE and UFC continues to track well, adds that it believes its revised outlook for both contracts “could ultimately prove conservative.” In afternoon trading, shares of TKO are up $9.42, or nearly 7%, to $152.35.
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