Deutsche Bank analyst Bryan Kraft raised the firm’s price target on Liberty Formula One to $60 from $56 and keeps a Hold rating on the shares after updating the firm’s model to incorporate results from Q4 and a revised forecast. The firm’s 2023 and 2024 EBITDA estimates increased by about 1% in both years, the analyst tells investors. While it believes that F1 is "a very good business with an attractive growth outlook," Deutsche Bank also thinks the growth story is already fully reflected in the valuation.
Published first on TheFly
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