JPMorgan Chase & Co. Forecasts Strong Price Appreciation for NEXT (LON:NXT) Stock

Key Points

• JPMorgan raised its price target for NEXT from £130.30 to £140.40 but maintained a “neutral” rating, implying roughly 9.88% downside from the prior close.
• Analyst opinion remains mixed: the consensus rating is “Hold,” with three Buy ratings and five Holds, while the average price target is £153.55.
• NEXT shares opened at £155.80, near their 52-week high of £161.75; the company has a £17.78 billion market capitalization and trades at a P/E ratio of 20.90.

NEXT (LON:NXT - Get Free Report) had its target price raised by stock analysts at JPMorgan Chase & Co. from £130.30 to £140.40 in a research report issued on Thursday,London Stock Exchange reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 9.88% from the stock's previous close.

Several other research firms also recently weighed in on NXT. Citigroup dropped their price target on NEXT from £135.42 to £132 and set a "neutral" rating for the company in a research report on Wednesday, April 8th. Berenberg Bank reaffirmed a "buy" rating and set a £180 price target on shares of NEXT in a research report on Friday, May 15th. Peel Hunt reissued a "hold" rating and set a £139 target price on shares of NEXT in a research report on Wednesday. Finally, Shore Capital Group reissued a "buy" rating and issued a £175 target price on shares of NEXT in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of £153.55.

NEXT Price Performance

NEXT stock opened at £155.80 on Thursday. The company has a market cap of £17.78 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 5.66 and a beta of 1.04. NEXT has a one year low of £112 and a one year high of £161.75. The business has a fifty day moving average of £144.28 and a two-hundred day moving average of £135.15. The company has a debt-to-equity ratio of 108.79, a quick ratio of 1.07 and a current ratio of 1.76.

Insiders Place Their Bets

In related news, insider Jonathan Blanchard sold 18,012 shares of NEXT stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of £148.02, for a total transaction of £2,666,136.24. 1.66% of the stock is owned by insiders.

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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