-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下：我們維持目標價110美元不變，預期本益比（TEV/EBITDA）為25.5倍，低於三年歷史平均值30.7倍和五年歷史平均值32.8倍。我們將2026年每股收益預期下調0.15美元至1.55美元，2027年每股收益預期維持在2.15美元不變，相應的營收預期分別為47億美元（此前預期為485億美元）和52億美元（與預期相同）。我們2026年的預期已考慮到一級方程式賽車取消了巴林和沙烏地阿拉伯的比賽，並將MotoGP卡達大獎賽推遲至11月舉行，具體安排將視伊朗-美國戰爭的市場情況而定。我們很高興地看到，該公司宣布將於2027年起與土耳其大獎賽簽署新的多年協議，土耳其大獎賽也將回歸。我們對MotoGP未來拓展贊助業務的機會持樂觀態度。我們認為，一級方程式賽車這個全球品牌能夠經受住中東戰亂的考驗，並期待FWON.K能受惠於其在這些地區日益增長的影響力。當然，潛在的下行風險是伊朗與美國之間曠日持久的戰爭。
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