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On Wednesday, Rosenblatt analysts increased the price target for Liberty Formula One stock to $107 from $102, while maintaining a Buy rating. The decision reflects updates to Formula One’s financial estimates, with the company currently trading at an EV/EBITDA multiple of 43.19x. The stock has shown strong momentum, trading near its 52-week high of $102.33, with analysts’ targets ranging from $80 to $125.
The analysts noted that their current estimates do not yet include the anticipated Dorna/MotoGP acquisition, which is expected to receive approval from EU regulators and finalize later this month. This acquisition could potentially boost OIBDA by an additional 30%.
Race attendance and viewership metrics for Formula One are reportedly on an upward trend, providing a positive environment for the company. The analysts highlighted the importance of whether Formula One can elevate MotoGP’s global and U.S. profile as a key factor.
Liberty Formula One, trading on the NASDAQ under the ticker FWONK, is positioned to benefit from these developments, as suggested by the revised price target and maintained Buy rating from Rosenblatt.
In other recent news, Liberty Formula One has been the subject of several notable developments. UBS analyst Ryan Gravett raised the price target for Liberty Formula One shares to $93, citing expectations that the first-quarter results will highlight the defensive nature of Formula One’s revenue streams. Gravett also forecasts a 10% increase in primary Formula One revenues for 2025, driven by sponsorship growth and the normalization of the Las Vegas Grand Prix. Meanwhile, Guggenheim analysts maintained a Buy rating with a $102 price target for Liberty Formula One, expressing confidence in a significant increase in the annual average value of U.S. media rights, potentially reaching $135 million. They anticipate interest from major streaming platforms like Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX), and Apple (NASDAQ:AAPL), which could replace ESPN in broadcasting Formula One. Additionally, a former Formula One Director credited Netflix’s ’Drive to Survive’ series for transforming the sponsorship landscape, making the sport more appealing to luxury brands and expanding commercial opportunities. The series has shifted the sport’s image from elitist to aspirational, enhancing its attractiveness to sponsors. These recent developments underscore the evolving dynamics in Formula One’s business model and sponsorship landscape.
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