Manchester United initiated with a Buy at UBS

UBS initiated coverage of Manchester United (MANU) with a Buy rating and $23 price target The company has a revenue base that is “largely unmatched” by its peers in Britain’s soccer Premier League, the analyst tells investors in a research note. The firm says that with continued interest in sports teams from private equity investors and wealthy individuals, the valuation of Manchester United is “well underpinned.” UBS sees limited downside risk to Manchester’s fiscal 2025 guidance “real upside” longer term with the company potentially drive revenue above GBP 800M.