Pivotal Research analyst Jeffrey Wlodarczak reiterated a Buy rating on Liberty Media Corporation Series A Liberty Formula One (FWONA) on August 8 and set a price target of $53. The company’s shares closed on Friday at $38.96, close to its 52-week high of $39.42.
Wlodarczak noted:
“We view the entrance of Internet players into potentially bidding on sports rights as a key potential wind at the back of rights fees (33% of revenue) medium/long term. Expanding races from 20 to 25 (~45% of revenue when including related fees) appears to be an obvious way to also juice results as well as a much more aggressive effort on the advertising/sponsor side (15%) and perhaps most importantly what we view as a potential massive long-term opportunity in OTT/gaming/e-sports (~1% currently). We also view the complexity of the current relationships in F1 as ideal for the “most intelligent guys in the room in to craft a new deal where everyone wins medium to long term.”
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 8.1% and a 57.3% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Charter Communications, and Sirius XM Holdings Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Liberty Media Corporation Series A Liberty Formula One with a $49.50 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $39.42 and a one-year low of $26.63. Currently, Liberty Media Corporation Series A Liberty Formula One has an average volume of 106.4K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Operates as a holding company which provides satellite radio services
