Analyst Lance Vitanza of TD Cowen maintained a Buy rating on Liberty Media Liberty Formula One, retaining the price target of $107.00.
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Lance Vitanza has given his Buy rating due to a combination of factors that highlight the promising growth potential of Liberty Media’s Formula One Group. The recent Las Vegas Grand Prix showcased the increasing domestic appeal and brand strength of Formula One, which is bolstered by successful sponsorships, hospitality, and data monetization strategies. These elements are proving to be reliable drivers of growth for the company.
Additionally, commitments from original equipment manufacturers (OEMs) and rising team valuations contribute to the positive outlook. The strategic expansion of MotoGP further adds to the excitement surrounding the company’s future prospects. These factors collectively suggest a strong potential for continued success, justifying the Buy rating.
In another report released on November 21, Benchmark Co. also maintained a Buy rating on the stock with a $110.00 price target.