NEXT (LON:NXT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

NEXT (LON:NXT) had its price objective boosted by JPMorgan Chase & Co. from £130.30 to £140.40 in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 10.49% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Shore Capital Group reissued a “buy” rating and issued a £175 price objective on shares of NEXT in a research note on Thursday. Citigroup lowered their target price on shares of NEXT from £135.42 to £132 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Berenberg Bank restated a “buy” rating and set a £180 price target on shares of NEXT in a research note on Friday, May 15th. Finally, Peel Hunt restated a “hold” rating and set a £139 target price on shares of NEXT in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of £153.55.

NEXT Trading Down 0.2%

LON NXT opened at £156.85 on Thursday. The stock 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. The firm has a 50-day moving average price of £145.28 and a 200 day moving average price of £135.44. NEXT has a 52-week low of £112 and a 52-week high of £161.75. The company has a quick ratio of 1.07, a current ratio of 1.76 and a debt-to-equity ratio of 108.79.

Insider Activity at NEXT

In related news, insider Jonathan Blanchard sold 18,012 shares of the business’s 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.

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

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.