Next (NXT)

Down
Share Price:
14,685.00p
Market Cap:
£17,572m
Change Today:
-230.00p
Sector:
Retailers

Shore Capital downgrades Next to 'hold', pauses for breath

By Michele Maatouk

Date: Tuesday 04 Nov 2025

LONDON (ShareCast) - (Sharecast News) - Shore Capital downgraded clothing and homeware retailer Next on Tuesday to 'hold' from 'buy' as it said it was a premium company, but at a premium valuation.
It noted that following another very strong quarter, Next has seen its share price rise to around £143, now up nearly 50% since the start of the year following four upgrades to FY26F guidance.

"While we remain firm fans of the company under Lord Wolfson's excellent leadership, with the current strength of the shares and high valuation premium (CY26F PER of 18.5x) we take pause for breath and downgrade our recommendation to hold with a raised fair value of 14,750p (up from 14,000p)," the broker said.

"To be clear, this is not a top-slice stance but rather a case that we would no longer suggest an increase in holdings with shares priced at the current level."

Shore Capital also said on Tuesday that it was lifting its FY26 revenue forecast to £6.7bn from £6.6bn and its pre-tax profit forecast to £1.14bn from £1.11bn.

At 1355 GMT, Next shares were down 0.5% at 14,239.44p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Next Market Data

Currency UK Pounds
Price 14,685.00p
Change Today -230.00p
52 Week High 15,715.00p
52 Week Low 11,575.00p
Volume 222,227
Shares Issued 119.66m
Market Cap £17,572m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 4
Neutral 11
Sell 0
Strong Sell 0
Total 20
buy
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