Citizens Starts Liberty Media Corp-Liberty Formula One (FWONA) at Market Outperform

Citizens analyst Matthew Condon initiates coverage on Liberty Media Corp-Liberty Formula One (NASDAQ: FWONA) with a Market Outperform rating and a price target of $100.00.

The analyst comments: "With shares down ~16% YTD, we believe recent headwinds— including cancelled Middle East races and commentary around limited team payment margin expansion beyond 2027—are largely reflected in the stock today.  We see continued monetization upside at Formula 1. Under its ownership, Liberty Media has successfully expanded Formula 1 fandom through many mechanisms, such as long-form content (including Drive To Survive and F1: The Movie), social media content, and experiential products. We believe its new U.S. media rights deal with Apple can further drive engagement and reach as Apple embeds Formula 1 content throughout its ecosystem and potentially enhances the viewing experience for fans. Through growing fandom, we continue to see opportunities for Formula 1 to grow revenue across race promotions, sponsorship, licensing, and hospitality."

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 $75.11 yesterday.

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