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We are upgrading our full year forecasts and raise our target price to £14 from £13.
We are upgrading our full year forecasts, with...pretax profit of £53.5m, up from our prior £50m.
Next has lost 80p to £78.65 despite an in-line third quarter sales update and a small rise in its full year forecasts.
In this context, we believe that our full year forecasts remain achievable, but we will review post our call with the company tomorrow.
Meanwhile Thomas Cook fell 8p to 122p after the tour operator said it expected to meet full year forecasts, but cautioned on a slowdown in bookings in the German market.
In terms of our full year forecasts, we have taken a prudent stance and reduced our pretax profit forecast for 2014 by £0.9m or 13% to £6.3m, reflecting some pressure on margins and the increased costs in servicing higher sugar volumes.
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Our current full year forecast is for revenues of $1,082m.
He expected to to increase his full year forecast by £1m to £64.5m.
Tableau also cut its 2016 full year forecast from a range of $845 to $865 million to a new range of $830 to $850 million.
Statement: "The full year forecast shows that full delivery of the directorate forecasts for the last two months of the year would give a small deficit of £13,000.
Shareholder sentiment was temporarily boosted after the seed producer improved gross margins from 55.6% to 58% last quarter and guided to the lower end of its $4.40 to $4.50 full year forecast.
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