Jefferies initiated coverage of TKO Group with a Buy rating and $120 price target. TKO is an entertainment platform that operates leading combat sports leagues including the UFC and WWE, the analyst tells investors in a research note. The firm believes the company can generate meaningful sales and EBITDA growth via rights renewals, and synergies including maximizing gate performance, cross-pollinating across fan bases, sponsorships, and other cost efficiencies.
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