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TKO jumps as Wall Street hypes live event boom for the WWE parent company

Analysts see upside from TKO’s popular live entertainment footprint and upcoming UFC deal.

Nia Warfield

TKO shares are up 5% Wednesday, the second-best performer among S&P 500 constituents, after the WWE and UFC parent got a bullish nod from Bernstein.

The firm reiterated its “outperform” rating on the stock as the company continues to invest and see strong momentum in live sports entertainment. Analysts also highlighted the companies’ “festivilizing” of events as an attractive growth opportunity. TKO continues to post record results at marquee events.

In April, WrestleMania 41 became WWE’s most watched and highest-grossing show ever, with on-site merch sales up 45% year over year and e-commerce revenue up 86%. Bernstein also flagged the company’s upcoming UFC media rights renewal as a major tailwind, suggesting the deal could top $1 billion annually as sponsorships continue to scale.

TKO shares are up 68% over the past year.

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