UBS upgrades Next to ‘buy’, hikes price target
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
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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.