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

NEXT (LON:NXT) had its target price raised by analysts at Citigroup from £132 to £155 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential downside of 1.18% from the stock’s previous close.

NXT has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on NEXT from £130.30 to £140.40 and gave the company a “neutral” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a £140 target price on shares of NEXT in a research report on Thursday. Berenberg Bank boosted their price target on NEXT from £180 to £187 and gave the stock a “buy” rating in a report on Thursday. Shore Capital Group reaffirmed a “buy” rating and issued a £175 price objective on shares of NEXT in a research note on Thursday. Finally, Peel Hunt reiterated a “hold” rating and issued a £139 price objective on shares of NEXT in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, NEXT currently has a consensus rating of “Hold” and an average target price of £153.55.

NEXT Stock Performance

Shares of NEXT stock opened at £156.85 on Thursday. The company’s 50 day moving average price is £145.28 and its two-hundred day moving average price is £135.44. The firm has a market capitalization of £17.90 billion, a P/E ratio of 21.04, a P/E/G ratio of 5.66 and a beta of 1.04. NEXT has a fifty-two week low of £112 and a fifty-two week 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 Activity at NEXT

In other news, insider Jonathan Blanchard sold 18,012 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of £148.02, for a total value of £2,666,136.24. Company insiders own 1.65% of the company’s stock.

NEXT News Summary

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.