Lance Vitanza, an analyst from TD Cowen, maintained the Buy rating on Liberty Media Liberty Formula One. The associated price target was raised to $106.00.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Lance Vitanza has given his Buy rating due to a combination of factors that highlight the growth potential of Liberty Media’s Liberty Formula One. The analyst notes that the recent meetings at the San Marino GP provided valuable insights into MotoGP’s strategic direction, which is now under Liberty’s umbrella. These discussions with key management figures revealed that promoter renewals are seeing significant increases, with annual escalators in place, indicating strong future revenue streams.
Additionally, the shift in sponsorships from endemic partners to global brands suggests a broader market appeal and potential for increased monetization. Vitanza points out that MotoGP, now part of Liberty, is entering the market with a more mature structure compared to Formula One in 2017, which could lead to a quicker monetization process. These factors combined suggest a promising outlook for Liberty Media, justifying the Buy rating.