Rosenblatt Maintains Buy Rating for Liberty Formula One Group: Here's What You Need To Know

Rosenblatt has decided to maintain its Buy rating of Liberty Formula One Group FWONK and raise its price target from $81.00 to $82.00.

Shares of Liberty Formula One Group are trading down 0.82% over the last 24 hours, at $66.30 per share.

A move to $82.00 would account for a 23.68% increase from the current share price.

About Liberty Formula One Group

Formula One Group controls the exclusive commercial and promotional rights to the FIA Formula One World Championship series, and the monetization of those rights is the primary business of the group. The firm is responsible for development and promotion of the Formula One race series in concert with its three partners: the FIA (the regulatory body), the teams that participate in the series, and the series' commercial partners, which include the race promoters, broadcasters, sponsors, and advertisers. The F1 schedule in 2023 will encompass 23 races held on five continents. Formula One Group is a subsidiary of Liberty Media, which purchased the firm in January 2017. Formula One stock is a tracking stock for the assets under Formula One Group with Liberty Media.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.