Berenberg Bank Forecasts Strong Price Appreciation for NEXT (LON:NXT) Stock

NEXT (LON:NXT) had its target price lifted by research analysts at Berenberg Bank from £180 to £187 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price target suggests a potential upside of 19.22% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of NEXT from £130.30 to £140.40 and gave the stock a “neutral” rating in a report on Thursday. Peel Hunt reissued a “hold” rating and issued a £139 price objective on shares of NEXT in a research note on Wednesday. Citigroup dropped their target price on NEXT from £135.42 to £132 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Finally, Shore Capital Group reiterated a “buy” rating and set a £175 price target on shares of NEXT in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, NEXT has a consensus rating of “Hold” and a consensus target price of £153.55.

NEXT Stock Performance

NXT opened at £156.85 on Thursday. NEXT has a 1-year low of £112 and a 1-year high of £161.75. The company has a market cap of £17.90 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 5.66 and a beta of 1.04. The company’s fifty day moving average price is £145.28 and its two-hundred day moving average price is £135.44. 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 Activity

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

More NEXT News

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

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.