Citi raised the firm’s price target on TKO Group (TKO) to $170 from $137 and keeps a Buy rating on the shares. In 2025, the firm expects TKO to announce two renewals: U.S. UFC rights and U.S. WWE Premium Live Events rights. Previously, Citi expected the UFC renewal at $655M, but raised the estimate to $810M. The fixed priced U.S. residential pay-per-view contract embedded in the UFC contract may be too generous to the rights holder and Citi expects this value to accrue to TKO during the upcoming renewal, the analyst tells investors in a research note. In addition, the firm thinks there is scope for multiple firms to bid on the UFC contract.
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Read More on TKO:
- TKO Group files automatic mixed securities shelf
- TKO Group files to sell Class A common stock for holders, no amount given
- TKO Group price target raised to $158 from $137 at JPMorgan
- Endeavor Group price target raised to $32 from $27.50 at Citi
- TKO Group price target raised to $165 from $145 at Pivotal Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
