# Susquehanna Trims Formula One Price Target to $110 on Lower Multiples While Keeping Positive Rating

- URL: https://stocks.freetheai.org/news/susquehanna-trims-formula-one-price-target-to-110-on-lower-multiples-while-a18544
- Published: 2026-10-16T15:51:21Z
- Category: analyst_ratings; sentiment: bullish; impact: medium
- Symbols: [NASDAQ:FWONK](https://stocks.freetheai.org/symbols/NASDAQ-FWONK), [NYSE:TKO](https://stocks.freetheai.org/symbols/NYSE-TKO), [NASDAQ:FWONA](https://stocks.freetheai.org/symbols/NASDAQ-FWONA)
- Written by our AI from expert market sources across the web for FreeTheAI Stocks, built by Vibhek Soni
- How write-ups are made: https://stocks.freetheai.org/how-we-write
- Not financial advice: https://stocks.freetheai.org/disclaimer

Susquehanna International Group reduced its price target for Liberty Media Corporation Series C (NASDAQ:FWONK) from $114 to $110, citing reduced market valuation multiples. Despite the trimmed target, the firm kept its positive rating on the stock along with its sales and earnings projections. The revised target represents approximately 21% potential gain from the stock's recent closing level.

The price target reduction comes as sports and entertainment equities face headwinds from Middle East tensions. Shares of Liberty Media Corporation Series C (NASDAQ:FWONK) have declined 8% year to date, while TKO Group Holdings, Inc. Class A (NYSE:TKO) has dropped 16%, with both lagging the wider sector. Investor concerns center on potential disruptions to regional events caused by the Iran conflict, even as race organizers intend to maintain their scheduled schedule. For the third quarter, consolidated revenue is estimated at $1.19 billion alongside EBITDA of $327 million.

Key upcoming events include scheduled grand prix races in Qatar on November 29 and Abu Dhabi on December 6. Further ahead, the organization plans to expand sprint races from six to ten in 2027, which could drive future growth by increasing viewer numbers and boosting sponsor and promoter demand. However, downside risks include falling audience engagement or an extended regional conflict, which could push the stock toward an $85 downside scenario.

## Key points

- Susquehanna reduced its price target for Formula One from $114 to $110 based on lower market multiples.
- The research firm maintained its positive rating, with the new target offering about 21% upside from the last close.
- Formula One shares have dropped 8% year to date amid investor worries over event exposure in the Middle East.
- Third-quarter earnings forecasts stand at $1.19 billion in revenue and $327 million in EBITDA.
- An expansion to 10 sprint races in 2027 could boost promoter and sponsor demand alongside viewership.

## Questions and answers

### What is the new price target for Formula One stock?

The price target for Formula One was adjusted to $110 from $114 due to lower market multiples, implying about 21% upside from its recent closing price while maintaining a positive rating.

### Why are investors concerned about Formula One races in the Middle East?

Investors are concerned that ongoing conflict in the region could cause cancellations of upcoming events, including races scheduled in Qatar on November 29 and Abu Dhabi on December 6.

### How could Formula One grow its revenue in 2027?

Formula One plans to increase sprint races from six to ten in 2027, which is expected to support growth through higher viewership and increased demand from sponsors and promoters.