Berenberg Bank Upgrades NEXT (LON:NXT) to “Hold”

NEXT (LON:NXT) was upgraded by stock analysts at Berenberg Bank to a “hold” rating in a report released on Tuesday, Digital Look reports. The firm presently has a GBX 7,100 ($92.76) price objective on the stock, up from their prior price objective of GBX 6,500 ($84.92). Berenberg Bank’s price target suggests a potential downside of 11.47% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of NEXT from GBX 7,135 ($93.22) to GBX 7,700 ($100.60) and gave the stock a “neutral” rating in a research report on Friday, May 14th. Royal Bank of Canada downgraded shares of NEXT to a “sector perform” rating in a report on Thursday, July 1st. Barclays reaffirmed an “overweight” rating and issued a GBX 8,700 ($113.67) price objective on shares of NEXT in a report on Tuesday, June 1st. Shore Capital reaffirmed an “under review” rating on shares of NEXT in a report on Wednesday. Finally, Liberum Capital reaffirmed a “buy” rating and issued a GBX 9,000 ($117.59) price objective on shares of NEXT in a report on Friday, May 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of GBX 7,131.25 ($93.17).

LON:NXT traded up GBX 74 ($0.97) during trading hours on Tuesday, hitting GBX 8,020 ($104.78). 293,809 shares of the company were exchanged, compared to its average volume of 301,293. The stock has a market cap of £10.66 billion and a PE ratio of 36.14. NEXT has a 52-week low of GBX 5,028 ($65.69) and a 52-week high of GBX 8,404 ($109.80). The company has a debt-to-equity ratio of 370.27, a current ratio of 1.91 and a quick ratio of 1.41. The company’s 50 day moving average is GBX 7,958.86.

In other NEXT news, insider Richard Papp sold 9,400 shares of the company’s stock in a transaction on Thursday, May 6th. The shares were sold at an average price of GBX 8,348 ($109.07), for a total transaction of £784,712 ($1,025,231.25).

NEXT Company Profile

NEXT plc engages in the retail of clothing, footwear, and home products in the United Kingdom, rest of Europe, the Middle East, Asia, and internationally. The company operates through NEXT Retail, NEXT Online, NEXT Finance, NEXT International Retail, NEXT Sourcing, Lipsy, NENA, and Property Management segments.

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Analyst Recommendations for NEXT (LON:NXT)

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