Guggenheim raised the firm’s price target on TKO Group (TKO) to $225 from $205 and keeps a Buy rating on the shares. The firm, which raised its outlook at WWE on a strong live events slate, the pull-forward of the ESPN PLE rights agreement, and continued sponsorship momentum, also lowered its UFC outlook “modestly” on the timing of PPV events and a tough UFC Sphere comp. The net results is that its full-year adjusted OIBDA outlook of $1.615B remains above consensus and management’s guidance range, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TKO:
- Paramount Skydance announces media rights agreement with Zuffa Boxing
- TKO Group price target raised to $205 from $165 at Morgan Stanley
- Hold Rating for TKO Group Holdings Amid Limited Expansion Opportunities and Valuation Concerns
- Nvidia & Palantir Stocks Growth Look Huge, Until You See These Four Surprising Winners
- TKO Group price target raised to $235 from $200 at UBS