TKO Group’s WWE deal with Netflix is ‘transformative’, says Roth MKM

Roth MKM keeps a Buy rating and $112 price target on TKO Group (TKO) but notes that the company’s 10-year, $5B global rights deal with Netflix (NFLX) is “transformative” for WWE as it should benefit from Netflix’s global marketing capabilities, scale and reach. This news also removes a share overhang by easing concerns about a softening sports rights market, the analyst tells investors in a research note.