Seaport Global Securities Starts Liberty Media Corp-Liberty Formula One (FWONA) at Buy

Seaport Global Securities analyst David Joyce initiates coverage on Liberty Media Corp-Liberty Formula One (NASDAQ: FWONA) with a Buy rating and a price target of $80.00.

• StreetInsider Note: FWONA holds the 1 right to vote in Formula One Group, FWONK does not hold any voting right but is more liquid equity asset.

The analyst comments "Formula One Group is a tracking stock of Liberty Media, reflecting 100% ownership in a unique asset - a global professional sports league. While expensive on traditional metrics (comparable to a trophy pro team asset), FWONA/K can be viewed as an operator with real cash flows and opportunities to enhance the revenue profile if it can achieve peer metrics with media rights, sponsorship and merchandising. We are initiating coverage on FWONA with a Buy rating, $80 PT, and on FWONK with a Buy rating, $85 PT."

For an analyst ratings summary and ratings history on Liberty Media Corp-Liberty Formula One click here. For more ratings news on Liberty Media Corp-Liberty Formula One click here.

Shares of Liberty Media Corp-Liberty Formula One closed at $66.09 yesterday.

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