BEST IDEA LONG TKO; READY FOR ROUND 2
Communications analysts Andrew Freedman and Billy Zegras are hosting a call updating their outlook on Best Idea Long TKO Group Holdings (TKO) on Monday, August 5th at 2:00pm ET to recap why they see 25% upside from its current price.
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The last time we presented on this name was all the way back in... December. At that time, TKO was trading in the mid-$70 range and we said it could be a $110-115 stock if they executed well over the next 6 months. Today, we find ourselves in a much different place. WWE found new homes for their IP. Vince McMahon sold all of his ownership in TKO. The UFC has signed new site deals and struck over 14 partnership agreements with sponsors. They settled the anti-trust case (for now). And the stock has reacted accordingly - now hovering just below $110, which is why we're doing this deck. We've updated our model, gone back through our data, played mental chess around rights step ups and examined growth opportunities for TKOs brands in Live Events and Sponsorships. Based on our work, we think growth in media rights, sponsorships, and live events over the next 12+ months give us over 25% upside from where the stock is trading today. |
We invite you to join us for this presentation.
