Broker Snaps: Next
Published Date:
19 July 2008
Next
1,032p +64p
Broker says HOLD
JP MORGAN has trimmed its target price on the fashion retailer to 1,050p from 1,100p saying it expects retail trends to remain weak next year.
The broker, which has a "neutral" stance on Next, has reduced its earnings per share forecasts by 2 per cent for this year and by 7 per cent for next year.
"We expect Next's sales trends to remain weak next year, given that its typical shopper is caught in the eye of the current consumer storm," JPM said.
The full article contains 95 words and appears in The Scotsman newspaper.
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Last Updated:
18 July 2008 9:02 PM
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Source:
The Scotsman
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Location:
Edinburgh
