TKO Group price target lowered to $120 from $126 at Guggenheim

Guggenheim lowered the firm’s price target on TKO Group to $120 from $126 and keeps a Buy rating on the shares after the company reported Q3 pro forma combined revenue and adjusted OIBDA that beat the firm’s estimates. The outperformance was driven by the UFC, which benefited from two additional Fight Night events compared to the prior year, the analyst tells investors. The firm’s price target cut reflects a lower 2026 EBITDA estimate due to an updated RAW forecast, the analyst noted.