Jefferies Reiterates Buy Rating on Manchester United on Partnering With Moscow Airline
In a report published on Monday, Jefferies analyst Randal J. Konik reiterated a Buy rating and a $23 price target on Manchester United (NYSE: MANU) on the announcement of a new regional partnership with Moscow airline Aeroflot.
In the report, Jefferies stated, "The agreement opens MANU's foray into the Russian market, where it has opportunity to increase its already deep base of followers. We see the brand strengthening as MANU further infiltrates every corner of the globe and the biz accelerates in high-growth, high-margin areas."
Manchester United closed on Friday at $16.95.
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