BofA raised the firm's price target on Liberty Formula One to $115 from $105 and keeps a Buy rating on the shares. Liberty Formula One has significant long-term sponsorship and licensing growth potential, driven by new brand partnerships, contract renewals, disciplined management of global sponsorship inventory, expanded category monetization, and growing licensing relationships with brands such as KitKat and Barilla that broaden the sport's audience and create additional revenue opportunities, the analyst tells investors in a research note.
