NEXT (LON:NXT) Earns Buy Rating from Shore Capital Group

NEXT (LON:NXT)‘s stock had its “buy” rating restated by equities research analysts at Shore Capital Group in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They currently have a £175 target price on the stock. Shore Capital Group’s price objective suggests a potential upside of 11.57% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Citigroup cut their price target on shares of NEXT from £135.42 to £132 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Berenberg Bank reiterated a “buy” rating and set a £180 price objective on shares of NEXT in a research note on Friday, May 15th. Finally, Peel Hunt reaffirmed a “hold” rating and set a £139 target price on shares of NEXT in a report on Wednesday. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of £153.55.

NEXT Price Performance

NXT stock opened at £156.85 on Thursday. NEXT has a 12-month low of £112 and a 12-month high of £161.75. The stock has a 50-day moving average price of £145.28 and a two-hundred day moving average price of £135.44. The company has a market cap of £17.90 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 5.66 and a beta of 1.04. The company has a current ratio of 1.76, a quick ratio of 1.07 and a debt-to-equity ratio of 108.79.

Insider Buying and Selling

In other news, insider Jonathan Blanchard sold 18,012 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of £148.02, for a total transaction of £2,666,136.24. 1.65% of the stock is owned by corporate insiders.

NEXT News Summary

Here are the key news stories impacting NEXT this week:

• Positive Sentiment: Berenberg raised its price target from £180 to £187 and maintained a “buy” rating, indicating confidence in NEXT’s earnings outlook and potential upside. Broker ratings
• Positive Sentiment: Shore Capital reaffirmed its “buy” rating with a £175 price target, also pointing to further potential gains for the retailer. Broker ratings
• Neutral Sentiment: Citigroup raised its target from £132 to £155 but retained a “neutral” rating, while JPMorgan lifted its target from £130.30 to £140.40 and also remained neutral. Their targets remain below NEXT’s recent trading level, limiting the positive impact of the revisions. Broker views
• Neutral Sentiment: Deutsche Bank reaffirmed its “hold” rating with a £140 target, and Peel Hunt separately maintained its “hold” recommendation. The continued cautious ratings reinforce concerns that much of NEXT’s expected performance may already be reflected in the share price. Peel Hunt reaffirms Hold rating for NEXT
• Neutral Sentiment: Across the brokerage coverage cited, NEXT has an average “hold” rating. This balanced outlook helps explain the weaker share-price performance despite multiple target increases. NEXT given average Hold rating

About NEXT

Founded as a tailoring business in Leeds in 1864 by Joseph Hepworth and Son, today, the company offers clothing, footwear, accessories, beauty and home products to our UK and International customers.

NEXT has over 500 stores in the United Kingdom and Eire, and over 180 franchise branches across Europe, Asia and the Middle East. The company’s main divisions are NEXT Online, NEXT Retail and NEXT Finance. We also launched Total Platform, an online, distribution, tech and logistics solution, in 2020.