NEXT's (NXT) Buy Rating Reaffirmed at Shore Capital Group

Key Points

• Shore Capital Group reaffirmed its “buy” rating on NEXT and maintained a £175 price target, implying 18.6% potential upside from the prior close.
• Analyst sentiment remains mixed: three analysts rate NEXT a Buy and five rate it a Hold, resulting in a consensus “Hold” rating and an average price target of £153.55.
• NEXT shares opened at £147.55 and were up 1.3%; the company has a £16.84 billion market capitalization and trades at a price-to-earnings ratio of 19.79.

NEXT (LON:NXT - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Shore Capital Group in a report issued on Thursday, Digital Look reports. They presently have a £175 target price on the stock. Shore Capital Group's price objective points to a potential upside of 18.60% from the stock's previous close.

Other research analysts also recently issued reports about the company. Peel Hunt reissued a "hold" rating and issued a £139 price target on shares of NEXT in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of NEXT from £130.30 to £140.40 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a £140 target price on shares of NEXT in a report on Thursday, August 6th. Citigroup increased their price target on shares of NEXT from £132 to £155 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Finally, Berenberg Bank raised their price target on shares of NEXT from £180 to £187 and gave the company a "buy" rating in a research report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, NEXT presently has an average rating of "Hold" and a consensus price target of £153.55.

NEXT Stock Up 1.3%

Shares of NXT opened at £147.55 on Thursday. NEXT has a 52 week low of £112 and a 52 week high of £161.75. The company has a quick ratio of 1.07, a current ratio of 1.76 and a debt-to-equity ratio of 108.79. The company has a market capitalization of £16.84 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 5.66 and a beta of 1.04. The stock's 50-day moving average price is £151.15 and its 200-day moving average price is £139.51.

Insider Transactions at NEXT

In other NEXT news, insider Jeni Mundy acquired 160 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of £155.45 per share, with a total value of £24,872. Also, insider Jonathan Blanchard sold 18,012 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of £148.02, for a total value of £2,666,136.24. Corporate insiders own 1.47% of the company's stock.

NEXT Company Profile

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.

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