‘Boring’ Liberty Formula One Upgraded To Buy at Bank of America

Bank of America Corp. has a message for Liberty Formula One investors as artificial intelligence fears rattle markets in a volatile macro and geopolitical environment: “Boring is exciting.”

The bank upgraded Liberty Formula One to buy from neutral on Wednesday, highlighting the durability of its business and the predictability of revenue growth. Analysts also noted that the owner of the Formula One racing series can’t be easily replaced by artificial intelligence.

“Amid a volatile macro and geopolitical environment, we believe there is a premium on highly durable and visible business models such as FWONK,” analysts led by Brent Navon wrote ...