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Brokers note - Next

Credit Suisse has increased its profit forecasts on Next ahead of its Q2 trading update on Aug 5.

CITY & CORPORATE

Brokers note - Next

The broker says it has moved its forecasts to take account of impro
ved clothing industry trade trends so for 2009/10 it has increased its profit number by 13% and for 2010/11 it has upped it by 12%.

Credit Suisse expects the non-food part of UK retail to under-perform on the back of currency effects but it regards Next as a safer company than its peers. It maintains its 'Outperform' recommendation but has increased its price target from 1,550p to 1,800p, which compares with an underlying share price of 1,664p.

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