TD Cowen initiated coverage of TKO Group with a Market Perform rating and $92 price target. The upcoming trial for the class action lawsuit brought by fighters who competed in the UFC is an “underappreciated risk catalyst that warrants investor focus,” the analyst tells investors. In addition, while the firm sees TKO benefiting from global sports rights growth, it has a “below sell-side consensus view” on key media rights renewals, the analyst added.
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