Manchester United Stock Moves Higher on Upgrade

The stock has just broken above a key trendline

Deputy Editor
Mar 21, 2022 at 11:00 AM
facebook twitter linkedin


Manchester United PLC (NYSE:MANU) is up 4.5% at $13.74 at last glance, after earning an upgrade from Deutsche Bank to "buy" from "hold," with the brokerage firm noting MANU is undervalued in its sector.

This positive price action has the security jumping above its 50-day moving average, which had helped guide the shares lower since its early October bear gap. Distancing itself from a March 7, roughly two-year low of $12.04, Manchester United stock remains down $20.9% year-over-year.  

Now that Deutsche Bank is bullish, two of the three analysts in coverage call the security a "buy" or better, with one a tepid "hold." Meanwhile, the 12-month consensus price target of $17.67 is a 28.6% premium to current levels. 

There has been plenty of short covering lately. Short interest is down 47.4% over the two most recent reporting periods, and now makes up just 1.3% of the stock's available float.  

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners