Liberty Media Formula One reported quarterly results with revenue falling nearly 40% year over year due to the cancellation of several races in the Middle East, yet the stock rose nearly 4% on the day. Despite lagging other sports stocks like TKO Group Holdings and MSG Sports, analysts from JPMorgan, Morgan Stanley and Bernstein expect the stock to outperform, projecting sponsorship revenue to exceed $1 billion by 2027-2028 and licensing income to reach $175-310 million by 2028. The Netflix partnership, particularly through the documentary series « Drive to Survive », has boosted F1 viewership by 63% compared to 2018. Morgan Stanley raised its price target to $125, implying 21% upside from recent levels.
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