Wells Fargo lowered the firm’s price target on Liberty Formula One (FWONK) to $89 from $95 and keeps an Equal Weight rating on the shares. The firm is reducing FY26 AOIBDA on first half of the year race cancellations. The second half of 2026 is a risk, but Wells leaves 2027 untouched, as Liberty Formula One would likely be able to recalibrate if the conflict is persistent.
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Read More on FWONK:
- Liberty Formula One upgraded to Buy at BofA on durable, visible business model
- Liberty Formula One upgraded to Buy from Neutral at BofA
- Liberty Formula One initiated with an Outperform at Citizens
- Liberty Formula One price target lowered to $95 from $100 at Citi
- Liberty Formula One price target lowered to $115 from $122 at JPMorgan