As previously reported, TD Cowen analyst Lance Vitanza upgraded TKO Group to Buy from Hold with a price target of $127, up from $92. The firm sees an attractive entry point coming out of “strong” Q1 earnings for TKO’s “high quality and unique” sports and entertainment properties, which it notes are “growing rapidly and throwing off considerable cash.” There are not a lot of avenues for institutional investors to participate in the ongoing bull market for televised sports content and “TKO is a good one,” says the analyst, who expect meaningful multiple expansion over time with key legal, operational, and technical risks resolved.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TKO:
- TKO Group price target raised to $121 from $112 at Roth MKM
- TKO Group price target raised to $103 from $100 at Seaport Research
- TKO Group raises FY24 revenue view to $2.610B-$2.685B, consensus $2.66B
- TKO Group reports Q1 EPS ($1.26), consensus 45c
- TKO Group price target raised to $131 from $120 at Jefferies