Manchester United price target raised to $25 from $24 at Deutsche Bank

Deutsche Bank analyst Simon Davies raised the firm’s price target on Manchester United (MANU) to $25 from $24 and keeps a Hold rating on the shares. The company’s Q3 results saw a further upturn in performance during Q3 as it benefited from improved performances on the pitch following a “barren patch”, the analyst tells investors in a research note. The firm adds that the company’s most significant achievement was the return into the Champions league, thereby avoiding a penalty payment to shirt sponsor Adidas (ADDYY), and with additional games in its Q4, Manchester United looks well set to deliver for FY23 and beyond.