The best replacement for sx40 is sx50.

The best alternatives to sx40 are rated as following:
★★★★★  sx50
★★★  fz150
★★  sx260
★★  nikon p510
★★  sx500
★★  hs30
★★  p510
★★  sx510
★★  s100
★  canon sx50
★  p500
★  g12
★  fz200
★  nikon p500
★  sx30
★  hx200v
★  sony hx100
★  sony hx200v
  sony hx200
  fz47
  panasonic fz150
  fujifilm hs20
  nikon cool pix 510
  hx100v
  hx200
  hs20
  nikon l810

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sx40
sx50
fz150