As previously reported, BofA analyst Brent Navon initiated coverage of Liberty Formula One (FWONK) with a Neutral rating and $110 price target The multiple the firm applies to its estimates represents “a significant premium” to the media and entertainment comp group, reflecting the value of high-quality IP assets, perception as a “trophy asset” and visibility of top-line growth drivers, the analyst tells investors. The firm believes the risk/reward is balanced at current levels as strong execution over the last several years is priced into shares, the analyst tells investors.
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Read More on FWONK:
- Liberty Formula One initiated with a Neutral at BofA
- Liberty Formula One K share price target raised to $120 from $104 at Guggenheim
- Liberty Formula One A share price target raised to $110 from $95 at Guggenheim
- Liberty Formula One reinstated with a Buy at Goldman Sachs
- Liberty Formula One price target raised to $104 from $100 at TD Cowen