Matthew Harrigan, an analyst from Benchmark Co., maintained the Buy rating on Liberty Media Liberty Formula One. The associated price target remains the same with $110.00.
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Matthew Harrigan has given his Buy rating due to a combination of factors that highlight the growth potential and strategic developments within Liberty Media’s Formula One Group. The recent Investor Day and F1 Business Summit underscored the ongoing momentum in Formula One, with the upcoming transformation into an asset-backed security expected to broaden its investor appeal. This strategic shift is anticipated to enhance the stock’s status as a premier sports-related public entity.
Additionally, the integration of MotoGP with Formula One’s established marketing strategies presents a compelling growth opportunity, as evidenced by the significant increase in social media engagement and sponsorship momentum. The upcoming participation of major automotive brands and new engine regulations are expected to drive further competition and economic benefits. The anticipated signing of the new Concorde agreement and collaborations with top tech companies further bolster the stock’s growth prospects, aligning with a high-growth sports entertainment valuation model.
In another report released on November 6, TD Cowen also maintained a Buy rating on the stock with a $107.00 price target.