Broker tips: Next, Tullow, British American Tobacco...

Shares in Next are up with events, according to Investec, despite a better-than-expected first-quarter update and raised guidance from the high street retail group on Wednesday."We view Next as a core holding, but with the shares trading on a sector average price-to-earnings rating, we believe the valuation is up with events and retain our 'hold' recommendation."Prime Wealth Group has labelled Tullow Oil as a 'buy', saying that Wednesday's production update and asset sales mark a 'turning point' for the shares."Tullow Oil shares have effectively been falling steadily since mid 2012 highs around 1,500p, as unsuccessful drilling campaigns and other hitches put an end to a long bull run for the explorer. Today however, most of the uncertainty has been removed by the sale of the Schooner and Ketch gas fields, enabling the group to redouble focus on its Kenya successes, and put the group on a strong financial footing."Panmure Gordon has upgraded British American Tobacco (BAT) from 'hold' to 'buy', saying it sees an improving performance in the second half from the company. The broker has hiked its target price for the stock from 3,225p to 3,850p."During the second half, currency headwinds are likely to ease in and pricing should accelerate contributing good underlying earnings growth."Analysts predict BSkyB's new broadband customer numbers will fall around 50% in the third quarter, as the company's battle with BT takes a continuing toll. The media group is due to report its results for the three months to the end of March on Thursday.Analysts at Deutsche Bank and Morgan Stanley (MS) respectively forecast broadband additions of 80,000 and 70,000, down from 152,000 in the same quarter last year and compared to 110,000-119,000 in the last three quarters. Credit Suisse has reiterated its 'overweight' position on the big-cap pharmaceuticals sector, saying that 25% of M&A deals in the year to date have been from the sector. "From a macro perspective, drugs have the best combination of low leverage (thus outperform if the US cost of debt rises), dollar earners (we are dollar bulls) and low global emerging market (GEM) exposure (22%) within defensives - and unlike staples GEM exposure trades on a discount to developed markets."BC