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.”