Lance Vitanza, an analyst from TD Cowen, maintained the Buy rating on Liberty Media Liberty Formula One (FWONA – Research Report). The associated price target was raised to $100.00.
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Lance Vitanza has given his Buy rating due to a combination of factors including strong fan engagement trends and the potential for increased revenue from new sponsorship deals. Despite a miss in first-quarter revenue, the unexpected strength in fan engagement suggests a positive outlook for future quarters.
Vitanza anticipates that the acquisition of Dorna will be finalized in the first half of 2025, which could further enhance Liberty Media’s growth prospects. The price targets for FWONK and FWONA are set at $110 and $100 respectively, based on a discounted cash flow analysis, reflecting confidence in the company’s valuation and future performance.
In another report released on April 28, Susquehanna also initiated coverage with a Buy rating on the stock with a $115.00 price target.