NEXT (LON:NXT) Price Target Raised to £187 at Berenberg Bank

Key Points

• Berenberg Bank raised NEXT’s price target from £180 to £187 and maintained a “buy” rating, implying approximately 20% upside from the previous close.
• Analyst sentiment remains mixed: NEXT has an average “hold” rating and a consensus price target of £153.55, despite buy ratings from Berenberg and Shore Capital.
• NEXT shares opened at £155.80 and were down 0.5%; the stock trades near its one-year high of £161.75, while insider Jonathan Blanchard recently sold shares worth approximately £2.67 million.

NEXT (LON:NXT - Get Free Report) had its price objective hoisted by equities research analysts at Berenberg Bank from £180 to £187 in a report issued on Thursday,London Stock Exchange reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's target price indicates a potential upside of 20.03% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Shore Capital Group reissued a "buy" rating and set a £175 target price on shares of NEXT in a research report on Thursday. JPMorgan Chase & Co. upped their price target on NEXT from £130.30 to £140.40 and gave the company a "neutral" rating in a report on Thursday. Peel Hunt reiterated a "hold" rating and issued a £139 price target on shares of NEXT in a research note on Wednesday. Finally, Citigroup cut their price objective on shares of NEXT from £135.42 to £132 and set a "neutral" rating on the stock in a report on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of £153.55.

NEXT Stock Down 0.5%

Shares of LON NXT opened at £155.80 on Thursday. The business has a 50-day moving average of £144.28 and a two-hundred day moving average of £135.15. The company has a market capitalization of £17.78 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 5.66 and a beta of 1.04. NEXT has a 1 year low of £112 and a 1 year high of £161.75. The company has a debt-to-equity ratio of 108.79, a current ratio of 1.76 and a quick ratio of 1.07.

Insider Buying and Selling

In related news, insider Jonathan Blanchard sold 18,012 shares of the 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. 1.66% of the stock is currently owned by company insiders.

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.

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