TKO Group (TKO, Financial) has announced a significant expansion of its wrestling portfolio through WWE's acquisition of Mexico's premier lucha libre organization, AAA. The strategic move, executed in collaboration with Mexican sports and entertainment giant Fillip, was unveiled during the WrestleMania 41 Saturday Countdown show in Las Vegas.
Key figures at the announcement included WWE's chief content officer, Paul Levesque, and Fillip's chairman, Alberto Fasja. AAA's leadership, represented by Marisela Pena and Dorian Roldan Pena, also participated in the event, along with wrestling icons such as WWE Hall of Famer Rey Mysterio and El Hijo Del Vikingo.
In addition to this acquisition, WWE revealed plans for a major upcoming event, Worlds Collide, which is set to take place at the Kia Forum in Los Angeles on June 7. This event promises to bring together talents from various wrestling promotions under TKO's expanding umbrella.
The acquisition is pending customary regulatory approvals and is anticipated to be finalized by the third quarter of the year. This move underscores TKO's commitment to broadening its global influence in the sports entertainment arena.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for TKO Group Holdings Inc (TKO, Financial) is $167.55 with a high estimate of $220.00 and a low estimate of $115.00. The average target implies an upside of 12.29% from the current price of $149.22. More detailed estimate data can be found on the TKO Group Holdings Inc (TKO) Forecast page.
Based on the consensus recommendation from 19 brokerage firms, TKO Group Holdings Inc's (TKO, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
