UBS upgrades Next to 'buy', hikes price target

(Sharecast News) - UBS upgraded its stance on Next on Friday to 'buy' from 'neutral' and lifted the price target to 11,700p from 10,500p. The bank said the fashion and homeware retailer was at an "inflection point" as far as growth and valuation are concerned.

It said that Next was a "safe haven" in an uncertain consumer landscape.

UBS lifted its FY27/FY28 pre-tax profit estimates by 1% and earnings per share by 3%/6%.

At 1355 GMT, the shares were up 2.9% at 10,058.87p.