Redburn-Atlantic Starts TKO Group Holdings (TKO) at Buy

Redburn-Atlantic analyst Ed Vyvyan initiates coverage on TKO Group Holdings (NYSE: TKO) with a Buy rating and a price target of $129.00.

The analyst comments: "The battle between traditional and new media continues to drive up rights values in sports. With combat entertainment becoming more mainstream, TKO has leverage in its upcoming rights negotiations and we see upside to current valuations. Our 12-month price target (PT) of $129 implies 21% potential upside. Our rights negotiation scenario analysis suggests a $100 bear case PT (6% downside) and $138 bull case PT (30% upside). We launch coverage with a Buy recommendation."

For an analyst ratings summary and ratings history on TKO Group Holdings click here. For more ratings news on TKO Group Holdings click here.

Shares of TKO Group Holdings closed at $104.82 yesterday.

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