Seaport Research analyst David Joyce initiated coverage of Liberty Formula One with a Buy rating and $80 price target on Series A common stock and $85 price target on Series C common stock. The firm is starting coverage of a total of ten companies in the Live Sports & Entertainment segment with a generally positive thesis due to proven operational resiliency during economic downturns, for the long-term appreciating nature of the scarce professional sports teams, and for deep discounts to NAV for certain names that may take some time for the ultimate catalysts to unfold.
Published first on TheFly
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- Liberty Formula One price target raised to $85 from $82 at Pivotal Research
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- Liberty Formula One price target raised to $82 from $70 at Pivotal Research
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