Citi upgraded Liberty Formula One to Buy from Neutral with a $71 price target. The analyst believes concerns about the Las Vegas Grand Prix spending are overblown. The firm is not overly concerned by the extra capex, saying the Vegas event could help drive U.S. engagement by bolstering media rights revenue. Citi also sees share upside if Apple secures Formula 1’s global media rights.
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- Liberty Formula One price target raised to $82 from $81 at Rosenblatt
