Next: Liberum maintains 'hold' rating
(CercleFinance.com) - Liberum maintained a "hold" rating on Next, with a 7,000 pence price target, after the British clothing retailer's better-than-expected Christmas trading update.
The performance will come as a relief to the broader sector, the broker said in a note to clients.
In the report, Liberum pointed out that the shares have risen by about 60% from a year ago, a deserved outperformance considering the strong trading.
The broker also noted the firm's strength of cash flow generation and overall financial health, but acknowledged the structural headwinds the business faces.
It hence keeps a "hold" rating on the shares, citing valuation grounds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The performance will come as a relief to the broader sector, the broker said in a note to clients.
In the report, Liberum pointed out that the shares have risen by about 60% from a year ago, a deserved outperformance considering the strong trading.
The broker also noted the firm's strength of cash flow generation and overall financial health, but acknowledged the structural headwinds the business faces.
It hence keeps a "hold" rating on the shares, citing valuation grounds.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.