Liberty Media Liberty Formula One, the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Lance Vitanza from TD Cowen maintained a Buy rating on the stock and has a $105.00 price target.
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Lance Vitanza’s rating is based on Liberty Media Liberty Formula One’s strong financial performance, as evidenced by their surpassing expectations in both revenue and OIBDA. The company has shown early success in ticket sales for the Las Vegas Grand Prix and has secured long-term contract extensions in race promotion and media, which bodes well for future growth.
Despite a potential concern regarding year-over-year comparisons due to a one-time benefit from an F1 movie, the underlying growth trends remain robust. Vitanza’s updated price targets for FWONK and FWONA reflect a comprehensive analysis of the company’s various business segments, supporting his Buy rating.