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.
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