Bloomberg is reporting that Wall Street analysts have presented WWE & UFC parent company TKO Group Holdings with its first “hold” or “non-buy” rating.
Stephen Glagola and George Kuhle of TD Cowen gave the rating to TKO Group Holdings over concerns about the company’s performance as well as the antitrust lawsuit filed against the UFC by 1,200 former UFC athletes.
That lawsuit will go to trial in April 2024 and was described by the analysts as a “risk catalyst that warrants investor focus.”
Glagola and Kuhle also expressed concerns over upcoming media rights renewals, arguing that TKO is “already over-indexed to US media rights.”
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Wall Street analysts have given WWE & UFC parent company TKO Group Holdings its first “hold” or “non-buy” rating, according to a report by Bloomberg. The rating was given by Stephen Glagola and George Kuhle of TD Cowen, who expressed concerns about the company’s performance and the antitrust lawsuit filed against the UFC by 1,200 former UFC athletes.
The analysts highlighted the upcoming trial of the lawsuit in April 2024 as a “risk catalyst that warrants investor focus.” This legal battle could potentially have a significant impact on TKO Group Holdings and its financial performance.
Glagola and Kuhle also raised concerns about TKO’s upcoming media rights renewals, arguing that the company is already heavily reliant on US media rights. This over-reliance could pose a risk if there are any changes or disruptions in the media landscape.
The “hold” rating suggests that the analysts do not recommend buying or selling TKO Group Holdings’ stock at the moment. It indicates a cautious stance due to the potential risks and uncertainties surrounding the company.
Investors and stakeholders should closely monitor the developments of the antitrust lawsuit and the outcome of the trial in April 2024. These events could have a significant impact on TKO Group Holdings’ financial performance and future prospects.
It is important for investors to conduct their own research and analysis before making any investment decisions. The opinions and ratings provided by analysts are subjective and should be considered alongside other factors and information.
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