Analyst Brent Navon CFA of Bank of America Securities reiterated a Buy rating on TKO Group Holdings, retaining the price target of $210.00.
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Brent Navon CFA’s rating is based on TKO Group Holdings’ strong performance and strategic initiatives. The company’s stock has significantly outperformed the broader market, driven by successful media rights renewals and solid execution in recent quarters. Additionally, TKO’s increased capital returns, including a substantial dividend hike and share repurchase program, indicate a robust financial position and commitment to shareholder value.
Furthermore, TKO’s strategic expansion into new areas, such as the Zuffa boxing media rights deal, positions the company for future growth. The company’s focus on sponsorship and live events presents a substantial revenue opportunity, supported by new media deals. These factors, combined with the scarcity value of premium intellectual property in a fragmented media industry, underpin the Buy rating and a price objective of $210.
Navon CFA covers the Communication Services sector, focusing on stocks such as Roku, TKO Group Holdings, and Liberty Media Liberty Formula One. According to TipRanks, Navon CFA has an average return of 35.8% and a 94.44% success rate on recommended stocks.
In another report released on October 10, BTIG also maintained a Buy rating on the stock with a $235.00 price target.