In a report released today, Matthew Harrigan from Benchmark Co. reiterated a Buy rating on Liberty Media Liberty Formula One (FWONA – Research Report), with a price target of $102.00.
Matthew Harrigan has given his Buy rating due to a combination of factors that highlight the promising prospects of Liberty Media’s Formula One Group. The anticipation surrounding the upcoming earnings call, coinciding with the first race of the 2025 season in Bahrain, is expected to focus on the growing global interest in Formula One. This interest is driven by increased race attendance, sponsorship monetization, and enhanced media engagement, which are all contributing to the rising asset values of the sport.
Additionally, Liberty Media’s strategic initiatives, such as the development of the Las Vegas Grand Prix and the introduction of sustainability efforts, are enhancing its operational model. The company’s ability to attract younger audiences through social media and partnerships, like the one with Netflix’s ‘Drive to Survive,’ further supports its growth trajectory. Benchmark’s price target of $102 for 2025 reflects these positive developments and the broader enthusiasm for sports assets in the global market.
According to TipRanks, Harrigan is an analyst with an average return of -0.6% and a 52.68% success rate. Harrigan covers the Communication Services sector, focusing on stocks such as Ooma, Comcast, and Grupo Televisa, S.A.B..