UPDATE: Jefferies Reiterates Manchester United at Buy, Danish Deal Brings MANU Credit Card to More Followers

In a report published Tuesday, Jeffries reiterated Manchester United's

Buy rating and $23 price target. Jefferies reported that, “We believe this latest deal in Denmark shows that the commercial segment continues to win new deals and grow rapidly. Credit card deals such as this one are not only lucrative for MANU, but also beneficial in providing the company with CRM data on cardholders. We expect the card to be successful in Denmark, a country where roughly one in seven people is estimated to be a Manchester United follower. Looking forward, we believe MANU's commercial business infrastructure will allow MANU to continue to successfully monetize the brand on a global basis. Bottom line, we believe this is only the beginning and that MANU has significant opportunities ahead to roll out new global and regional deals." Manchester United's shares closed at $16.95 on Monday.