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Deutsche Bank views Next plc's profit outlook upgrade as a positive indicator amid economic uncertainty. The company specializes in ready-to-wear clothing and accessories, with 92% of net sales from clothing distribution, primarily through mail order and UK stores, while international operations account for a smaller share. Geographically, 83.8% of sales are from the UK, with Europe and the Middle East contributing 9.5% and 4.6%, respectively.
Next plc shares surged over 3% following a UBS upgrade to 'Buy' and a price target increase to 11,700p, driven by stronger growth prospects and a de-risked outlook. Analysts project a 7% annual profit growth over five years, bolstered by overseas expansion and robust cash flow, while also anticipating significant share buybacks. Despite recent volatility, Next is viewed as attractively valued, trading at 14 times forward earnings, with expectations of outperforming its guidance for the 2026 fiscal year.
Next plc shares surged over 3% following a UBS upgrade to 'Buy' and a price target increase to 11,700p, driven by stronger midterm growth prospects and a de-risked outlook. Analysts project a 7% annual growth in profit before tax over the next five years, supported by overseas expansion and robust cash flow generation. UBS anticipates Next will outperform its guidance for 2026, with full-price sales growth of 4% and a projected profit before tax of £1,054 million.
Next Plc has raised its profit forecast for the third time this fiscal year, now expecting annual pretax profits to exceed £1 billion, up from £995 million. This adjustment comes despite declining British consumer confidence ahead of anticipated tax increases in the upcoming budget.
NEXT plc
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