Conor McGregor Returns To UFC & Lawsuits Settled: Why TKO Stock Is Punching Higher
Portfolio Pulse from Erica Kollmann
TKO Group Holdings, Inc. (NYSE:TKO) shares rose after settling lawsuits with former UFC athletes for $335 million and the announcement of Conor McGregor's UFC return. Analysts from B of A Securities and Citigroup have bullish ratings on TKO, with price targets of $100 and $130, respectively. The average 1-year price target for TKO is $102.4, indicating a 17.53% upside potential.
March 20, 2024 | 8:05 pm
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POSITIVE IMPACT
TKO Group Holdings, Inc. settled lawsuits with former UFC athletes for $335 million and announced Conor McGregor's return to UFC, positively impacting its stock.
The settlement of lawsuits removes a significant legal overhang, potentially restoring investor confidence. Conor McGregor's return to UFC could boost TKO's visibility and profitability, as McGregor is a major draw. Analysts' bullish ratings and raised price targets further support the positive outlook for TKO's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100