FWONK - B. Riley raises target on Formula One expecting better revenues/cash flow

Formula One ([[FWONK]] -0.4%, [[FWONA]] +0.2%) is holding up nicely on an ugly day for stocks after B. Riley FBR raised its price target. The firm reiterated its Buy rating, raising its target on [[FWONK]] to $46 from $43 (28% upside) to reflect a boost to its medium-term estimates and more conviction that the company can increase the growth rate of free cash flow per share. It's also raising longer-term estimates, with a sunnier outlook for revenues from hosting, broadcasting and sponsorships. Wall Street is Very Bullish on [[FWONK]] overall; it has a Quant Rating of Neutral.

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B. Riley raises target on Formula One, expecting better revenues/cash flow