UBS upgrades Next to ‘buy’, hikes price target
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UBS upgraded its stance on Next on Friday to ‘buy’ from ‘neutral’ and lifted the price target to 11,700p from 10,500p.
FTSE 100
8,809.74
17:15 28/02/25
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FTSE 350
4,808.02
17:14 28/02/25
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FTSE All-Share
4,754.32
17:14 28/02/25
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General Retailers
4,864.57
17:14 28/02/25
0.33%
15.79
Next
10,025.00p
16:39 28/02/25
0.15%
15.00p
The bank said the fashion and homeware retailer was at an "inflection point" as far as growth and valuation are concerned.
It said that Next was a "safe haven" in an uncertain consumer landscape.
UBS lifted its FY27/FY28 pre-tax profit estimates by 1% and earnings per share by 3%/6%.
At 1355 GMT, the shares were up 2.9% at 10,058.87p.