UBS has initiated coverage of Formula One Group (FWONK) with a Neutral rating, projecting slower growth ahead with a price target of $85. Analysts forecast revenue and operating income growth rates of 8% and 12% from 2024 to 2026, down from 16% and 20% previously, citing factors like lower operating leverage and modest U.S. rights renewal impacts. Despite strong cash generation, UBS notes balanced risks and rewards, highlighting the U.S. market as a significant opportunity for expansion.