UBS Forecasts 46% F1 Q1 Revenue Growth, Sets Royal Gold $325 Buy
UBS forecasts Formula One will post first-quarter revenue of about $590 million and OIBDA of $147 million, reflecting 46% and 74% year-on-year growth. UBS also initiated Royal Gold at Buy with a $325 target while warning of Nike’s uncertain margin recovery despite a 3.6% share uptick.
1. Formula One Q1 Growth Forecast
UBS analysts forecast first-quarter Formula One revenue of roughly $590 million, up 46% year-over-year, and OIBDA of $147 million, a 74% increase, driven by an extra race compared with last year, stronger sponsorship sales and early benefits from the new Concorde Agreement.
2. Royal Gold Initial Buy Rating
UBS initiated coverage of Royal Gold with a Buy rating and a $325 price target, citing improving production growth visibility, a more diversified asset base and the potential for a valuation re-rating.
3. Nike Earnings and Margin Outlook
Despite Nike shares rising 3.6%, UBS analysts raised questions about the sustainability of the company’s earnings recovery and long-term margin trajectory, suggesting valuation concerns may outweigh near-term momentum.