** UBS starts coverage on English Premier League soccer club Manchester United MANU.N with "buy" rating and $23 PT
** In a note titled 'The Red Devils set to rise again', UBS says co's new management could boost performance both on and off the field
** The club nicknamed the Red Devils has seen a raft of changes since British billionaire and INEOS boss Jim Ratcliffe acquired a 27.7% stake in the club earlier this year and took charge of its football operations
** "Focus on cost management should support investment to improve sporting performance as well as a return to net profitability" - UBS
** MANU holds a revenue base largely unmatched by any Premier League peer and a potential return to the lucrative UEFA Champions League tournament could likely boost revenue to 800 mln pounds ($1.02 bln) in FY28, adds UBS
** Last month, MANU reported a smaller adj. net loss for Q1 2025, helped by cost cutting and benefits from favourable exchange rates
** The club has also plans to develop its Old Trafford stadium, which UBS says could further boost potential revenue by ~200 mln pounds
** As of last close, MANU down 13.3% YTD
($1 = 0.7877 pounds)
(Reporting by Siddarth S in Bengaluru)
((Siddarth.s@thomsonreuters.com;))
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