Broker tips: BP, Vodafone, Next

BP smashed consensus forecasts with its first-quarter results on Tuesday, though analysts at UBS said that the read-through for future years is limited for the moment.The Swiss bank maintained a 'neutral' rating and 450p target price for the oil major, saying that changes to outer-year forecasts are only "negligible" due to the absence of material new guidance regarding the core business.Vodafone's share price was performing well on Wednesday after the telecoms stock was upgraded by Berenberg from 'hold' to 'buy'.The broker, which hiked its target price for the shares from 214p to 270p, said the valuation was "attractive" after the stock's underperformance over the last year.Next surpassed forecasts with its first-quarter sales update on Wednesday, though Investec maintained a 'hold' rating on the stock.The broker said that high street fashion and homeware retailer remains a "core holding" but pointed out that the stock is trading at 17 times current-year estimated earnings, compared with the wider sector at a multiple of 16.5.