From Investing.com: 2024-11-08 10:12:39

Morgan Stanley raises Formula 1 stock target to $102, citing strong sponsorship growth and cash flow. Despite softer Las Vegas Grand Prix ticket sales, analysts see broader benefits. Forecasting higher sponsorship growth in 2025, with adjusted EBITDA and free cash flow per share expected to rise by 2026. Tickets available for 2024 Grand Prix, new sponsorships to drive revenue growth. Firm eyeing U.S. rights renewal and new Concorde Agreement impact on financials. Optimism for Formula 1’s future growth, but maintains Equal-Weight rating on stock.



Read more at Investing.com: Formula 1 target lifted at Morgan Stanley on stronger sponsorship growth By Investing.com