TKO Group initiated with a Buy at Roth MKM

Roth MKM initiated coverage of TKO Group (TKO) with a Buy rating and $132 price target. The firm says WWE (WWE) has been its “Top Idea” this year and that the now-completed merger with UFC to form TKO Group Holdings “makes the story even more attractive.” TKO combines two complementary sports brands into one unique content company “operating in the sweet spot of evolving media eco-structure,” the analyst tells investors in a research note. Roth says TKO has three transformative TV rights deals over the next three years.