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Investing.com - UBS raised its price target on Liberty Formula One (NASDAQ:FWONK) to $107.00 from $98.00 on Friday, while maintaining a Neutral rating on the stock. The company, with a market capitalization of $24 billion, has demonstrated strong momentum with a 32% return over the past year. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with 12 key insights available for subscribers.
The price target increase follows Liberty Formula One’s quarterly results that exceeded expectations, with Primary F1 revenues growing 40% year-over-year, outpacing UBS’s estimate of 32% and the Street’s projection of 34%. The company’s growth was attributed to a favorable race calendar with nine races versus eight in the previous year, and an improved mix of races including the Saudi Arabia and Bahrain Grand Prix events. With total revenue reaching $3.5 billion in the last twelve months and a healthy current ratio of 2.54, InvestingPro data reveals the company operates with moderate debt levels and strong liquidity.
Other F1 revenues increased 47% year-over-year, surpassing UBS’s estimate of 23% and the Street’s expectation of 26%, driven by licensing deals and strong Paddock Club sales. The company reported F1 OIBDA (Operating Income Before Depreciation and Amortization) of $361 million, significantly higher than UBS’s estimate of $279 million and the Street’s forecast of $310 million.
Team payments remained steady at $513 million, or $57.0 million per race, unchanged from the previous quarter despite the strong second-quarter performance. Management noted that ticket sales for the Las Vegas Grand Prix are tracking higher year-over-year, which could provide potential upside if the trend continues.
UBS now forecasts Liberty Formula One’s 2025 primary F1 revenues to reach $3.07 billion with OIBDA of $915 million, representing growth of 11% and 16% respectively. For deeper insights into Liberty Formula One’s financial health and growth prospects, including exclusive ProTips and comprehensive valuation metrics, explore the detailed Pro Research Report available on InvestingPro.
In other recent news, Liberty Formula One has been the focus of multiple analyst evaluations. BofA Securities initiated coverage with a Neutral rating and set a price target of $110.00, suggesting an 11% potential upside. The firm based its target on a 31x multiple of estimated free cash flow for 2026. Bernstein SocGen also raised its price target to $110.00, maintaining a Market Perform rating, influenced by adjustments in North American media rights estimates. CFRA offered a more optimistic view, initiating coverage with a Buy rating and a $125 price target, projecting earnings per share of $1.70 in 2025 and $2.15 in 2026, alongside revenue forecasts of $4.3 billion and $4.8 billion for those years. Goldman Sachs reinstated coverage with a Buy rating and a $120.00 price target, citing potential revenue growth from sponsorships and operating leverage on team payments. These developments highlight the varied perspectives of analysts on Liberty Formula One’s financial prospects.
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