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Wall Street Analysts Are Bullish on Top Communication Services Picks

Tipranks - Tipranks - Fri Mar 20, 7:18AM CDT

There’s a lot to be optimistic about in the Communication Services sector as 2 analysts just weighed in on Spotify (SPOT) and Liberty Media Liberty Formula One (FWONK) with bullish sentiments.

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Spotify (SPOT)

Bernstein analyst Ian S. Moore maintained a Buy rating on Spotify today and set a price target of $650.00. The company’s shares closed last Wednesday at $516.72.

According to TipRanks.com, Moore is ranked 0 out of 5 stars with an average return of -8.7% and a 32.4% success rate. Moore covers the NA sector, focusing on stocks such as Live Nation Entertainment, TKO Group Holdings, and Warner Music Group. ;'>

Currently, the analyst consensus on Spotify is a Strong Buy with an average price target of $648.17, implying a 24.1% upside from current levels. In a report issued on March 5, TipRanks – PerPlexity also upgraded the stock to Buy with a $582.00 price target.

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Liberty Media Liberty Formula One (FWONK)

In a report released today, David Karnovsky from J.P. Morgan maintained a Buy rating on Liberty Media Liberty Formula One, with a price target of $115.00. The company’s shares closed last Wednesday at $85.18.

According to TipRanks.com, Karnovsky is a 5-star analyst with an average return of 14.2% and a 62.7% success rate. Karnovsky covers the NA sector, focusing on stocks such as Madison Square Garden Sports, Live Nation Entertainment, and Sphere Entertainment. ;'>

Liberty Media Liberty Formula One has an analyst consensus of Strong Buy, with a price target consensus of $116.13, a 33.2% upside from current levels. In a report issued on March 16, Evercore ISI also maintained a Buy rating on the stock with a $124.00 price target.

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