Analyst Lance Vitanza from TD Cowen maintained a Buy rating on Liberty Media Liberty Formula One (FWONA – Research Report) and increased the price target to $95.00 from $88.00.
Lance Vitanza has given his Buy rating due to a combination of factors influencing Liberty Media Liberty Formula One’s stock. Despite missing expectations in the fourth quarter because of weaker race promotion revenue and increased costs from the Las Vegas Grand Prix, there are positive indicators for future growth.
The company saw a 15% year-over-year increase in F1 TV subscriptions in 2024, with plans to introduce a premium tier in 2025, which could drive further revenue. Additionally, there is confidence that the MotoGP deal will be finalized by June 2025. Although fiscal year 2025 estimates have been lowered, there is potential for improvement if the Las Vegas Grand Prix performance and associated costs are optimized.
Vitanza covers the Communication Services sector, focusing on stocks such as Clear Channel Outdoor, Liberty Media Liberty Formula One, and Opera. According to TipRanks, Vitanza has an average return of 25.7% and a 46.41% success rate on recommended stocks.
In another report released on February 28, Benchmark Co. also maintained a Buy rating on the stock with a $102.00 price target.