BNP Paribas Wealth Management has maintained its “neutral” stance on clothing retailer Next, ahead of the company’s full year results expected out on Thursday. BNP said that Next reported an upbeat Christmas trading period in January but the harsh weather at the start of the year could take the shine off the numbers.
RANDALL AND QUILTER
Randall and Quilter’s run-off portfolios appear to be performing well with favourable development of claims reserves. While the Equitas dispute is likely to have impacted investor sentiment, Numis Securities think the current valuation looks attractive for a business of R&Q's proven quality and retains a “buy” rating.
Standard & Poor’s (S&P) has raised its target price for Enel SpA to €4.91 and maintained its “buy” recommendation. S&P supports Enel's plans to integrate recent acquisitions and reduce debt via €7bn of disposals, including its Spanish high-voltage electricity grid and a minority stake in Enel Green Power via an IPO or trade sale.