JPMorgan raised the firm’s price target on Liberty Formula One to $88 from $79 and keeps an Overweight rating on the shares. With the 2024 Formula 1 season now underway, the firm took the opportunity to preview the upcoming year for Liberty Formula One’s business and highlight where it sees outperformance to near- and long-term estimates. JPMorgan sees good visibility into at least low-double-digit free cash flow growth over its forecast window, with room for upside from the Las Vegas GP, new sponsor partners, F1 TV, Paddock Club, and higher rates on various contract renewals.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on FWONK:
- Liberty Formula One price target raised to $79 from $75 at Seaport Research
- Liberty Formula One price target raised to $84 from $80 at Seaport Research
- Liberty Formula One price target raised to $100 from $92 at Pivotal Research
- FWONK Earnings this Week: How Will it Perform?
- Lewis Hamilton near switch to Ferrari from Mercedes, ESPN reports
Questions or Comments about the article? Write to editor@tipranks.com