Evercore ISI raised the firm’s price target on Liberty Formula One to $85 from $80 and keeps an Outperform rating on the shares. Formula 1 grew revenue and EBITDA 25% year-over-year in 2023 and the firm expects EBITDA growth to accelerate modestly to 28% year-over-year in 2024, driven by two additional races, improvement in Las Vegas profitability, the acquisition of Quint and organic growth in broadcast and sponsorship revenue, the analyst tells investors.
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