Liberty Media Corporation (NASDAQ: FWONK) is considered one of the best communication services stocks by Hedge Funds. Wolfe Research analyst Peter Supino reiterated a Buy rating on FWONK with a revised target price of $123, indicating a 33% upside. JPMorgan analyst David Karnovsky raised his price target to $122 and assigned an overweight rating, foreseeing almost 32% upside from the current level. Liberty Media operates in the motorsports business, holding commercial rights for the FIA Formula One World Championship. The company is expected to thrive with positive prospects for live events business models.

Read more at Yahoo Finance: Why are Hedge Funds Keen on Liberty Media (FWONK)