Morgan Stanley analyst Benjamin Swinburne raised the firm’s price target on TKO Group to $118 from $115 and keeps an Equal Weight rating on the shares. Media rights are the primary driver of TKO’s share price, but the improvement in WWE’s live event business is “notable early in the life of this newly combined company,” says the analyst, who raised estimates but continues to see consensus estimates for media rights revenues and valuation as “full.”
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TKO:
- Taseko Mines Limited call buyer realizes 47% same-day gains
- TKO Group Holdings Grapples with Antitrust Class-Action Lawsuits
- TKO confirms judge denied motion for preliminary approval of UFC settlement
- Judge rejects preliminary UFC antitrust lawsuit settlement, ABC reports
- Citi opens ‘positive catalyst watch’ on TKO after judge blocks UFC settlement