Liberty Media Corp-Liberty Formula One (FWONA) PT Raised to $106 at TD Cowen

TD Cowen analyst Lance Vitanza raised the price target on Liberty Media Corp-Liberty Formula One (NASDAQ: FWONA) to $106.00 (from $105.00) while maintaining a Buy rating.

The analyst commented: "We attended MotoGP's San Marino race with unprecedented access to management and key business unit leaders. We estimate promoter renewals are delivering 15-20% uplifts with annual escalators while sponsorship is shifting beyond endemic partners towards global brands. MotoGP enters Liberty structurally more mature than F1 in 2017, supporting potential for a faster monetization ramp, we think."

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