Liberty Formula One (FWONK) Stock Gets Buy Rating from Jefferies on MotoGP and Apple TV Growth

TLDR

• Jefferies initiated coverage on Liberty Formula One (FWONK) with a Buy rating and a $115 price target
• The stock trades at $94.95, with the new target representing roughly 21% upside from its last close
• Jefferies sees Apple TV’s U.S. deal adding around $55 million annually in media-rights revenue through 2030
• MotoGP is flagged as an underappreciated asset, with F1 generating roughly 10 times its sponsorship revenue
• Jefferies forecasts revenue rising from $4.73 billion in 2025 to $5.84 billion in 2028, with margins expanding from 23.8% to 27.2%

Jefferies has initiated coverage on Liberty Formula One (FWONK) with a Buy rating and a price target of $115, up from the stock’s current price of $94.95. That target implies around 21% upside from where the stock last closed.

Liberty Media Corporation, FWONK

Analyst Anthony Berni described FWONK as a “high-quality media and consumer experiences business” targeting affluent consumers. The firm values it at 1.6 times enterprise value to OIBDA growth, calling that a reasonable entry point.

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