Liberty Media Corporation (NASDAQ:FWONK) is one of the best communication services stocks according to Hedge Funds.
Peter Supino from Wolfe Research reiterated his bullish views on Liberty Media Corporation (NASDAQ:FWONK), assigning a Buy rating to the stock on December 15. Supino also revised his target price estimate for the stock from $121 to $123, implying 33% upside.
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This upward revision came after Wolfe Research shared its 2026 positive outlook for the media & entertainment vertical. With favorable prospects for live events business models, Liberty Media Corporation (NASDAQ:FWONK) is expected to thrive.
On December 2, JPMorgan analyst David Karnovsky raised his price target on the stock from $120 to $122 and assigned an overweight rating. As per his estimates, the stock offered almost 32% upside from the prevailing level at that time. Karnovsky reflected on the company’s investor day presentation, which indicated strong growth prospects beyond 2026. He also saw fundamental strength within the F1 ecosystem, which backs his bullish views.
Liberty Media Corporation (NASDAQ:FWONK) operates in the motorsports business, through its subsidiaries, across the U.S. and the United Kingdom. They have the commercial rights for the FIA Formula One World Championship and are also responsible for its promotion. Other services they offer include ticketing, hospitality packages, licensing, and television production.
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Disclosure: None. This article is originally published at Insider Monkey.
