TKO Group price target lowered to $228 from $260 at Roth Capital

Roth Capital lowered the firm’s price target on TKO Group (TKO) to $228 from $260 and keeps a Buy rating on the shares ahead of its Q1 results this week. The company continues to benefit from a strong base of recurring media rights contracts, increasing partnerships and financial incentive packages, along with long-term upside opportunities from Zuffa Boxing, though the firm is reducing its price target to reflect market valuation pressures, the analyst tells investors in a research note. With the conflict in Iran still evolving, there is some uncertainty around whether TKO will ultimately hold its planned UFC and WWE events in the Middle East this year, the firm added.