Investors have become overly bearish on the Vegas Grand Prix and the prospect of U.S. sports rights renewals, said Citi.
Citi thinks it's time to to buy shares of Liberty Media Formula One . The investment bank upgraded shares of Formula One Group to buy from neutral, maintaining its $71 price target. This implies a potential upside of more than 17% from the stock's closing price of $60.34 on Thursday afternoon. It's been a highly volatile year for shares of Formula One, which are overall up 17.7% in that time. Over the past three months, however, they are down 6.7%.
mountain FWONA ytd chart Upon the introduction of the Las Vegas Grand Prix, Formula One raised its capex outlook to $400 million from its previous $270 million, escalating investor skepticism around the race. But Bazinet called these concerns "overblown," noting that the upcoming event acts as an opportunity to ultimately grow Formula One's U.S. presence.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Mike Bahía and Greeicy Share the En Vivo Stage for “One Night, One Love” ShowcaseThe Colombian couple graced the Faena Theatre stage for an intimate one-of-a-kind night of hits and premium beer, brought to life by Michelob ULTRA
Weiterlesen »
One man killed, one critical in crash on I-35W in Fort Worth; northbound lanes closedNorthbound Interstate 35W is closed at 28th Street on Thursday after an accident that killed one man and left another in critical condition
Weiterlesen »
Law & Order, FBI, and One Chicago Shows Start Work on New Seasons with One ExceptionWolf Entertainment's Law & Order, FBI, and One Chicago franchises are opening writers rooms, with the exception of Organized Crime
Weiterlesen »
Block Stock Could Be Dead Money for Some Time, Says CitiCitigroup analysts removed payments firm Block from its top picks rank, cut the target price on the stock to $65 from $90, but till has a Buy rating on shares.
Weiterlesen »
Buy this 'recession-resistant' auto retail stock, Citi saysThe bank upgraded the auto parts retailer to buy and raised its price target to $1,040 per share from $983.
Weiterlesen »
SDOT, Harrell create ‘first of its kind’ framework to hit city’s zero-emission goalsHarrell’s One Seattle plan contains four pillars — with environmental stewardship being one of them.
Weiterlesen »