Shares of popular English Premier League soccer club Manchester United (NYSE:MANU) are soaring higher today on multiple reports that the storied club could see an acquisition offer from an investment group from Qatar.
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The current owner of MANU, the Glazer family, has seen fan protests in the past and has already indicated a look at potential alternatives. A new owner could inject much-needed funds into the club that could translate into new boots on the field. Earlier, the club also received an offer from chemicals producer INEOS.
Overall, Wall Street has a consensus price target of $24.50 on MANU, implying a 16% potential upside in the stock. That’s on top of the nearly 56% gain the stock has delivered over the past year.
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