Citi downgrades Formula One to neutral, says record performance is already priced in

Formula One F1 - Bahrain Grand Prix - Bahrain International Circuit, Sakhir, Bahrain - March 20, 2022 General view during the race.
Thaier Al-sudani | Reuters

Shares of red-hot Formula One Group are likely to come back to the pack in the months ahead, according to Citi.