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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Barclays downgrades Next, says shares up with events

(Sharecast News) - Barclays downgraded Next on Thursday to 'equalweight' from 'overweight' but lifted the price target to 8,500p from 8,250p, as it said the valuation is now reasonable. "Although we still very much like the long-term story at Next, we feel that the share price is 'up with events' after a strong run," it said.

Barclays noted the shares are up 26% since the end of October last year, versus the FTSE 100 up 5%.

At 0945 GMT, the shares were down 2.2% at 8,278p.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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