Next: UBS maintains 'buy' rating
(CercleFinance.com) - UBS maintains a "buy" rating on British clothing retailer Next, which last week raised its full-year profit guidance after strong Christmas sales.
In a note to clients, the broker points out that Christmas trading beat expectations, but also says that the company's guidance is still "slightly cautious".
"Sales growth during the Christmas trading period came in above UBS and Next's forecasts but full-year 2020/2021 profit before tax guidance feels cautious," it writes in the report.
UBS has a target price of 7,200 pence for the stock.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the broker points out that Christmas trading beat expectations, but also says that the company's guidance is still "slightly cautious".
"Sales growth during the Christmas trading period came in above UBS and Next's forecasts but full-year 2020/2021 profit before tax guidance feels cautious," it writes in the report.
UBS has a target price of 7,200 pence for the stock.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.