UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Manchester United PLC Before Thursday Earnings Report

In a report published Monday, Jefferies reiterated its Buy rating on Manchester United PLC

, and raised its price target from $20.00 to $23.00. Jefferies noted, “MANU reports F'2Q earnings on 2/14. We expect strong results and positive commentary around current trends. In particular, the team is currently #1 in the Premier League and the profitable commercial segment is gaining momentum as seen by several new sponsorships announced intra quarter. We view risk/reward as very attractive; reiterate Buy rating and raising PT to $23.” Manchester United PLC closed on Friday at $18.35.