Susquehanna lowered the firm’s price target on Liberty Formula One (FWONK) to $119 from $121 and keeps a Positive rating on the shares. The firm said the reported a 3Q beat with revenue/EBITDA +3%/+6% versus consensus due to stronger F1 offset by MotoGP. Looking to 4Q, the LV race is most important where management highlighted ticket sales and opex were both within budget.
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