Wells Fargo analyst Steven Cahall lowered the firm’s price target on Liberty Formula One (FWONK) to $80 from $83 and keeps an Underweight rating on the shares. Media rights remain a big debate and the firm will take the downside, which has long-term implications. Concorde fears are dispelled, while Vegas is a newer negative, Wells adds.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FWONK:
- Sell Rating for Liberty Media Formula One Due to Media Rights and Las Vegas Grand Prix Impact
- Liberty Media Reports Strong 2024 Results
- Positive Outlook for Liberty Media Formula One: Buy Rating Amid Growth Opportunities and Strategic Partnerships
- Liberty Formula One reports Q4 revenue $1.17B, consensus $1.36B
- Promising Prospects for Liberty Media’s Formula One Group: Buy Rating Affirmed Amidst Global Growth and Strategic Initiatives
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue