In a report released today, Barton Crockett from B.Riley FBR assigned a Hold rating to Formula One Group (NASDAQ: FWONA), with a price target of $36. The company’s shares opened today at $29.07, close to its 52-week low of $27.22.
Crockett wrote:
“Liberty’s Formula One (FWONA, Neutral, $36 PT) tracking stock reported upside in a seasonally small 1Q18 with only one race. Call commentary was constructive around explorations for new races in Miami and China.”
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 4.6% and a 56.3% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Qurate Retail Group Inc, and Sirius XM Holdings Inc.
Formula One Group has an analyst consensus of Strong Buy, with a price target consensus of $42.75.
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The company has a one-year high of $39.37 and a one-year low of $27.22. Currently, Formula One Group has an average volume of 283K.
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Liberty Media Corp. engages in the operation and ownership of various media, communications, and entertainment businesses. It operates through the SIRIUS XM and Formula 1 segments. The SIRIUS XM provides a subscription based satellite radio service.
