Seaport Research initiated coverage of TKO Group (TKO) with a Buy rating and $114 price target. The analyst likes the company’s 10%-plus long-term annual EBITDA growth target and thinks synergies can be realized from incremental global fan engagement, media rights fees, and event volumes. The firm finds more upside in Endeavor Group (EDR) shares, but says the synergy, growth, and potential future capital returns opportunity with TKO “is intriguing.”
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