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Next: UBS maintains 'buy' rating

(CercleFinance.com) - UBS maintains a "buy" rating on British clothing retailer Next, which last week raised its full-year profit guidance after strong Christmas sales.

In a note to clients, the broker points out that Christmas trading beat expectations, but also says that the company's guidance is still "slightly cautious".

"Sales growth during the Christmas trading period came in above UBS and Next's forecasts but full-year 2020/2021 profit before tax guidance feels cautious," it writes in the report.

UBS has a target price of 7,200 pence for the stock.

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