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Pin to quick picksNext Share News (NXT)

Share Price Information for Next (NXT)

London Stock Exchange
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Share Price: 9,368.00
Bid: 9,366.00
Ask: 9,370.00
Change: -58.00 (-0.62%)
Spread: 4.00 (0.043%)
Open: 9,452.00
High: 9,466.00
Low: 9,344.00
Prev. Close: 9,426.00
NXT Live PriceLast checked at -

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Broker snap: Credit Suisse cuts Next to 'neutral' after strong run

Fri, 05th Apr 2013 09:15

After a 50 per cent share-price jump over the past 12 months, Next has seen its rating downgraded by Credit Suisse from 'outperform' to 'neutral', causing the stock to fall on Friday morning.The broker has removed the shares from its 'Focus List' after the 37% outperformance of the benchmark FTSE 100 index.The stock was down 2.52% at 4,216p by 09:32 in morning trade.Credit Suisse said that some of the drivers of the financial year (ending January 2014) have not been quite as significant as expected: "The outlook for Homeware sales, Directory service enhancements and customer growth in 2H 2012/13 are all slightly behind where we hoped they would be at this stage of the year, providing slightly less confidence in forecasts."As such, it believes that there is little chance of upgrades to full-year numbers until the second half following a slow January and expected slow first quarter.Meanwhile, Next has given mixed messages on share repurchases, the broker said."The company has shown clear reluctance to buy back shares above £45, and has yet to pay over £43. We don't see a long-term alternative to buybacks, but for as long as it remains well behind its full-year run rate, the buyback question will be a cloud; both technically in terms of support, and potentially in terms of the earnings per share accretion for the next two years."Next's valuation - trading a 13.5 times forward earnings - is close to 10-year highs, Credit Suisse said.The target price has been lifted from 4,450p to 4,650p, which leaves just 6.0% upside to the current price.BC
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(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

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29 Mar 2023 17:16

Banks boost European stocks, UBS climbs after naming Ermotti CEO

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29 Mar 2023 17:11

LONDON MARKET CLOSE: Stocks up as confidence in banking sector builds

(Alliance News) - London's FTSE 100 extended its win streak to three days on Wednesday, with markets poised to wrap-up a fraught month for equities in bullish fashion, as banking sector fears fade.

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29 Mar 2023 12:08

LONDON MARKET MIDDAY: Banking optimism, Chinese tech gains lift shares

(Alliance News) - Large-cap equities in Europe went into Wednesday afternoon on the front foot, with the market mood lifted by a rally in Chinese technology shares and continued optimism that a full-blown banking crisis will be averted.

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29 Mar 2023 09:26

TOP NEWS: Next shares down as warns of profit and sales decline

(Alliance News) - Next PLC on Wednesday hailed a "good year" in 2022 despite various challenges, but expects a "difficult" year ahead as selling price inflation will be "more benign" than anticipated.

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29 Mar 2023 09:04

LONDON MARKET OPEN: Trading timid; Next falls as profit to decline

(Alliance News) - Stock prices in London opened higher on Wednesday, though trading remaining cautious following the recent turbulence in the banking sector.

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29 Mar 2023 07:57

Next posts better-than-expected FY profits

(Sharecast News) - Next posted a better-than-expected jump in full-year profit on Wednesday as it said selling price inflation was set to be more benign than previously thought, but warned the year ahead will be "difficult" and that it continues to expect a decline in profit.

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29 Mar 2023 07:52

LONDON BRIEFING: Next guides for lower profit and full price sales

(Alliance News) - Equity trading is set to remain cautious in London on Wednesday, as investor sentiment continues to steady after the recent turbulence in the banking sector.

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28 Mar 2023 16:47

Next snaps up Cath Kidston vintage clothing brand for GBP8.5 million

(Alliance News) - Next PLC on Tuesday said it has bought the Cath Kidston vintage clothing brand in a GBP8.5 million deal.

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28 Mar 2023 16:44

Next buys Cath Kidston for £8.5m

(Sharecast News) - Retailer Next confirmed on Tuesday that it has agreed to buy the brand name, domain names and intellectual property of Cath Kidston from the administrators for £8.5m.

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Wednesday preview: UK money supply growth, Next in focus

(Sharecast News) - Investors' focus in the middle of the week would swivel back to the UK.

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LONDON BRIEFING: Diageo CEO to retire; UK shop inflation hits record

(Alliance News) - Stocks in London were set for a higher open on Tuesday, with investors feeling cautiously optimistic as the dust settles from the recent turmoil in the banking sector.

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