TKO Group price target lowered to $100 from $107 at Seaport Research

Seaport Research analyst David Joyce lowered the firm’s price target on TKO Group to $100 from $107 and keeps a Buy rating on the shares. The company’s Q4 “was a little soft” on the media rights and content revenue stream, and corporate expenses were higher than expected, somewhat due to the early stage of being a standalone public company, the analyst tells investors in a research note. However, with recurring capital returns potentially on the horizon and 15% upside to the firm’s base-case valuation, it keeps a Buy rating on the shares.