Jefferies analyst Randal Konik raised the firm’s price target on Manchester United to $26 from $25 and keeps a Buy rating on the shares. The firm tells investors that Manchester United’s Q3 results were “encouraging” as revenue and adjusted EBITDA came in ahead of estimates, and the company raised its revenue and adjusted EBITDA outlook for FY23. While the Q3 results are viewed favorably, Jefferies feels share performance is largely tied to a potential transaction rather than fundamentals.
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