TKO Returns to 'Beating & Raising' Track, Morgan Stanley Says

MT Newswires Live08-04

TKO (TKO) returned to "beating and raising" track with its Q2 results and guidance, driven by the power of live events and the experience economy, Morgan Stanley said in a Tuesday note.

The note said Ultimate Fighting Championship continued to show force, and IMG/OnLocation benefited from the FIFA World Cup, while World Wrestling Entertainment is working though some transitory headwinds.

While there was consternation last quarter that they didn't raise the guide, they increased 2026 outlook for revenue and adjusted EBITDA with upside from UFC and IMG/WC, the report said.

The report also pointed to the company's plan to focus on execution and to resume share repurchases.

Morgan Stanley raised its price target to $230 from $225 while maintaining its overweight rating.

Price: 183.79, Change: -0.13, Percent Change: -0.07

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