Morgan Stanley analyst Benjamin Swinburne maintained a Buy rating on Liberty Media Liberty Formula One (FWONK – Research Report) today and set a price target of $110.00.
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Benjamin Swinburne has given his Buy rating due to a combination of factors that indicate potential growth and stability for Liberty Media Liberty Formula One. The finalized commercial terms of the new Concorde agreement and a solid start to 2025 have led to a modest increase in estimates, with a projected 20% upside to the price target. Additionally, upcoming catalysts such as the US media rights deal, de-trackerization, and the F1 film are expected to further enhance the company’s prospects.
Despite some macroeconomic volatility that may affect sports rights demand, Swinburne remains confident in the company’s ability to achieve double-digit adjusted EBITDA growth on a compound annual growth rate basis through 2027. The strong global engagement momentum, particularly in the US where audience strength has increased by 45% year-over-year, supports this positive outlook. Furthermore, higher expected revenue growth is anticipated to lead to increased team payment leverage in 2025, with further leverage expected in 2026.
In another report released on April 28, Susquehanna also initiated coverage with a Buy rating on the stock with a $115.00 price target.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FWONK in relation to earlier this year.