JPMorgan analyst David Karnovsky raised the firm’s price target on Liberty Formula One (FWONK) to $105 from $96 and keeps an Overweight rating on the shares. The firm has high visibility into the company’s revenue and EBITDA acceleration for 2025, led by sponsorship. It expects Formula One’s “attractive growth” to continue in 2026 with updated race promotion contracts and a new U.S. rights deal, where it believes three company is well positioned into negotiations. JPMorgan also sees upside to margins with the next Concorde agreement.
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