Analyst Lance Vitanza from TD Cowen maintained a Buy rating on TKO Group Holdings (TKO – Research Report) and increased the price target to $220.00 from $200.00.
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Lance Vitanza has given his Buy rating due to a combination of factors including the anticipated growth in earnings and cash flow as TKO Group Holdings integrates its newly acquired assets. The company’s recent acquisitions, such as On Location and Professional Bull Riders, along with a significant portion of IMG’s assets, are expected to drive substantial growth.
Despite trading at a notable discount compared to its closest competitors, TKO Group Holdings shows a promising growth profile across various time horizons. The price target reflects a conservative approach, considering a slight reduction in the valuation multiple, which suggests potential for upward adjustments. Enhanced guidance and transparency around the acquired assets further support the expectation of elevated growth, justifying the Buy rating.
In another report released on May 12, Seaport Global also maintained a Buy rating on the stock with a $173.00 price target.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TKO in relation to earlier this year.