RE: Oversold21 Sep 2018 17:19
Next PLC (LON:NXT) is set to report a healthy recovery in full price sales at its first-half results on Tuesday but its valuation remains hostage to UK economic uncertainty, according to Jefferies.
Jefferies repeated a ‘hold’ rating on the stock but cut its target price to 5,600p from 6,100p, citing a “more depressed valuation context for UK discretionary consumer exposure”.