Rosenblatt analyst Barton Crockett raised the firm’s price target on Liberty Formula One to $82 from $81 and keeps a Buy rating on the shares. The analyst updated estimates, factoring in recent disclosures of “much higher” capex tied to the inaugural Las Vegas race on November 16 to 18. The firm believes consensus estimates have a “constructive take” on positive momentum at Formula One. However, the market will continue to confer a premium multiple that can support the shares, the analyst tells investors in a research note.
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