Barclays downgrades Next, says shares up with events
Next
9,806.00p
16:40 20/12/24
0.25%
24.00p
Barclays downgraded Next on Thursday to ‘equalweight’ from ‘overweight’ but lifted the price target to 8,500p from 8,250p, as it said the valuation is now reasonable.
FTSE 100
8,084.61
17:04 20/12/24
n/a
n/a
FTSE 350
4,463.29
17:14 20/12/24
n/a
n/a
FTSE All-Share
4,421.11
17:04 20/12/24
n/a
n/a
General Retailers
4,645.29
17:14 20/12/24
0.11%
5.26
"Although we still very much like the long-term story at Next, we feel that the share price is 'up with events' after a strong run," it said.
Barclays noted the shares are up 26% since the end of October last year, versus the FTSE 100 up 5%.
At 0945 GMT, the shares were down 2.2% at 8,278p.