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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: 9,426.00
Bid: 9,432.00
Ask: 9,434.00
Change: 34.00 (0.36%)
Spread: 2.00 (0.021%)
Open: 9,362.00
High: 9,442.00
Low: 9,320.00
Prev. Close: 9,392.00
NXT Live PriceLast checked at -

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Broker snap: Credit Suisse hikes Next target, but cautions over long-term forecasts

Fri, 17th Jan 2014 10:38

Credit Suisse has hiked its target price for Next on the back of the retailer's strong brand momentum, but kept a cautious stance on concerns over long-term forecasts for the company.The bank raised its target price for the shares by 1,000p to 6,500p and maintained a 'neutral' recommendation for the stock."In a meeting with management this week we were struck by the degree of (cautious) confidence in the UK macro, International prospects for Directory, UK space pipeline, strength of the brand, improvements to execution, bad debts in the credit book and continued near 100% cash conversion," Credit Suisse said. "Given that we have now upgraded our 2013/14 forecasts by 15% in the past 12 months, versus widespread downgrades of 6-8% elsewhere in the sector, this optimism is scarcely surprising."The bank said it sees few concerns over its forecasts for this year and the next, and with the shares trading at 16 times' earnings they are "not expensive versus peers".However, looking ahead the bank believes that long-term growth, margin and tax assumptions now look "quite demanding"."Next Brand earnings before interest and tax (EBIT) margins are near 20%, which is frequently a watershed in retail, and, given the relatively low sales growth, we believe the valuation discounts these margins into maturity, driven by positive brand like-for-like sales and a benign gross margin environment, coupled with 21% tax rates, the lowest in 20 years."The stock was 0.32% higher at 6,185p by 10:59.BC
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(Alliance News) - Stocks in London were set to retreat slightly on Monday, in line with equity markets in Asia, at the start of the last week before the Christmas holidays.

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18 Dec 2023 06:57

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(Alliance News) - Frasers Group PLC is in talks to buy Matchesfashion, a luxury clothing retailer, from its private equity owner since 2017, Apax Partners, Sky News reported on Saturday.

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14 Dec 2023 09:29

LONDON BROKER RATINGS: JPMorgan raises Compass and Marston's

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

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LONDON BROKER RATINGS: RBC likes 3i; JPMorgan raises Ocado

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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30 Nov 2023 15:29

UK dividends calendar - next 7 days

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24 Nov 2023 16:56

LONDON MARKET CLOSE: Pound jumps above USD1.26 mark on Black Friday

(Alliance News) - Global markets saw a lacklustre session this Black Friday, with European markets edging just slightly higher.

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LONDON MARKET MIDDAY: Stocks edge lower in quiet Thanksgiving trade

(Alliance News) - Stock prices in London were down midday on Friday, in a quiet day of trade as the Thanksgiving holiday saw global markets "hit the snooze button."

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21 Nov 2023 13:04

Deutsche Bank starts coverage of 6 retail stocks; prefers Asos, B&M and M&S

(Sharecast News) - Deutsche Bank initiated coverage on six UK retail stocks on Tuesday, with a preference for Asos, B&M European Value Retail and Marks & Spencer.

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21 Nov 2023 09:54

LONDON BROKER RATINGS: Deutsche says 'buy' B&M and Marks & Spencer

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

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8 Nov 2023 14:59

London close: Retail stocks rise on mixed day for markets

(Sharecast News) - London's stock markets experienced a mixed day of trading on Wednesday after a robust performance from the retail sector, led by gains from Marks and Spencer.

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6 Nov 2023 16:45

London close: Stocks mixed, Ryanair leads low-cost airlines higher

(Sharecast News) - London's stock markets finished mixed on Monday, with low-cost airlines in focus as investors cheered Ryanair's latest figures.

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6 Nov 2023 09:34

LONDON BROKER RATINGS: RBC cuts Next but lifts Dunelm; Citi likes JD

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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6 Nov 2023 07:57

LONDON BRIEFING: Melrose wins GE Aerospace deal; Prudential optimistic

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RBC Capital upgrades Dunelm, downgrades Next

(Sharecast News) - RBC Capital Markets upgraded Dunelm on Monday, but downgraded Next.

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