UBS analyst Ivar Billfalk-Kelly initiates coverage on Manchester United with a buy rating and a target price of $23, anticipating a performance turnaround and Champions League qualification by 2028.
A turning point in Manchester United 's performance could kick off some upside for shares, according to UBS. Analyst Ivar Billfalk-Kelly initiated coverage on the U.K.-based professional football club with a buy rating, setting his 12-month price target at $23. That implies 30% upside ahead, as of Monday's close.
'Manchester United's glory days of the 1990s may be a distant memory but, with a revenue base largely unmatched by any Premier League peer, we believe Manchester United should (eventually) compete for the top spots of the Premier League and Champions League,' the analyst told clients this week. 'The new management and its focus on cost management should support investment to improve sporting performance as well as a return to net profitability.' Given that this 'superior' revenue base would allow the soccer club to spend more on talent, Billfalk-Kelly said his anticipation of the team's eventual turnaround in performance will lead to its participation in the 'lucrative' Champions League during the fiscal year 2028 season specifically. That year, he forecasts that Manchester United's revenue could reach 803 million pounds and even thinks the group could make a return to positive net profits. Along with that, a full stadium redevelopment could spur incremental revenue upside of 200 million pounds in the long term as a result of more ticketing, hospitality and events, the analyst said. He noted that this could ultimately bring revenue to greater than 1 billion pounds. 'With continued interest in sports teams and leagues from private equity and wealthy individuals seeing trophy assets, we see the valuation of Manchester United as well underpinned,' he continued. Other analysts are more neutral on the name, however. Among the three analysts covering the stock on Wall Street, two have a hold rating, according to LSEG data. Still, its average target of $19.43 reflects more gains from here, implying almost 10% upside potentia
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