Liberty Formula One price target raised to $79 from $75 at Seaport Research

Seaport Research analyst David Joyce raised the firm’s price target on Liberty Formula One to $79 from $75 and keeps a Buy rating on the shares. The analyst cites the company’s demonstrated ability to sustain a 21% margin in 2023, similar to the prior two years, even with producing their own Las Vegas Grand Prix for the target bump. The firm continues to prefer live entertainment and sports stocks, “especially where there are significant opportunities to drive up sponsorship, merchandising, volumes, and pricing.”