Michele Maatouk Sharecast News
31 Jan, 2025 13:58 31 Jan, 2025 13:58

UBS upgrades Next to ‘buy’, hikes price target

dl next plc ftse 100 consumer discretionary retail retailers diversified retailers logo
NextSharecast graphic / Josh White

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
n/a
n/a

FTSE 350

4,808.02

17:14 28/02/25
n/a
n/a

FTSE All-Share

4,754.32

17:14 28/02/25
n/a
n/a

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.

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