Macquarie Sticks to Its Buy Rating for Formula One Group (FWONA)

By Ryan Adsit

Macquarie analyst Amy Yong maintained a Buy rating on Formula One Group (NASDAQ: FWONA) on August 8 and set a price target of $39. The company’s shares closed on Friday at $33.67.

According to TipRanks.com, Yong is a 4-star analyst with an average return of 6.1% and a 55.7% success rate. Yong covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Liberty Global PLC LiLAC Class A, and Madison Square Garden Co.

Formula One Group has an analyst consensus of Moderate Buy, with a price target consensus of $46.50, implying a 38.1% upside from current levels. In a report issued on August 10, Pivotal Research also reiterated a Buy rating on the stock with a $54 price target.

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Formula One Group’s market cap is currently $7.77B and has a P/E ratio of 23.71. The company has a Price to Book ratio of 1.37.

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Liberty Media Corp. engages in the operation and ownership of various media, communications, and entertainment businesses. It operates through the SIRIUS XM and Formula 1 segments. The SIRIUS XM provides a subscription based satellite radio service.