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Benzinga

Business

Piero Cingari

Formula 1 Is Wall Street's New Money Machine—With Horsepower

Goldman Sachs MotoGP F1 Liberty Formula One Group United States

Formula 1

Formula 1 is quietly becoming one of the most powerful profit engines in sports media and Goldman Sachs is going full throttle.

On Monday, Goldman Sachs analyst Stephen Laszczyk reinstated coverage of Liberty Formula One Group (NASDAQ:FWONK) – owner of the Formula 1 and newly acquired MotoGP racing series – with a Buy rating and a 12-month price target of $120, suggesting a 17% total return potential.

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