Jefferies raised the firm’s price target on TKO Group (TKO) to $200 from $160 and keeps a Buy rating on the shares. Management is focused on maximizing the value of its live sports assets, says the analyst, who calls the UFC’s media rights renewal and the untapped sponsorship opportunities at WWE “key areas to watch. Shares appear undervalued relative to peers and the recently announced $2B share repurchase program and a quarterly cash dividend “sets the stage for increased shareholder value,” the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TKO:
- TKO Group price target raised to $128 from $125 at Morgan Stanley
- TKO Group price target raised to $170 from $137 at Citi
- TKO Group files automatic mixed securities shelf
- TKO Group files to sell Class A common stock for holders, no amount given
- TKO Group price target raised to $158 from $137 at JPMorgan