Liberty Media reports solid full-year earnings; F1 grows

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Liberty Formula One (FWONK) PT Raised to $86 at Wolfe Research, 'Results demonstrate continued strength'

February 29, 2024 6:08 AM EST

Wolfe Research analyst Ronald Song raised the price target on Liberty Formula One (NASDAQ: FWONK) to $86.00 (from $84.00) while maintaining a Outperform rating.

The analyst comments "4Q'23 revenue of $1,230M came in below expectations (est. $1,285M / cons. $1,266M), driven by lower than expected... More

Liberty Formula One (FWONK) PT Raised to Street High $100 at Pivotal, 'if a broadcast rights bidding war emerges for FWONK it could put the company in play'

February 28, 2024 3:18 PM EST

Pivotal Research analyst Jeffrey Wlodarzak raised the price target on Liberty Formula One (NASDAQ: FWONK) to $100.00 (from $92.00) while maintaining a Buy rating.

The analyst comments "Post strong in-line 4Q results, +22% y/y EBITDA growth in 23 (which we expect to accelerate in 24) and a decision to raise our post 24 broadcast rights fee expectations we increased our YE24 target price $8 to a street high $100. This years EBITDA/free cash flow results should get a material boost from 2 extra races, a likely material improvement in returns in the self-promoted Las Vegas GP, the structure of... More