Credit Suisse Group Raises NEXT plc (NXT) Price Target to GBX 4,200
NEXT plc (LON:NXT) had its price target increased by analysts at Credit Suisse Group from GBX 4,000 ($51.66) to GBX 4,200 ($54.24) in a research note issued on Friday. The firm presently has an “underperform” rating on the stock. Credit Suisse Group’s price target would suggest a potential downside of 15.90% from the stock’s current price.
A number of other equities analysts also recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a GBX 4,250 ($54.89) price target on shares of NEXT plc in a report on Tuesday, June 20th. Barclays PLC reissued an “underweight” rating and issued a GBX 3,900 ($50.37) price target on shares of NEXT plc in a report on Friday, June 30th. HSBC Holdings plc reissued a “reduce” rating and issued a GBX 3,360 ($43.39) price target on shares of NEXT plc in a report on Wednesday, June 7th. Jefferies Group LLC raised shares of NEXT plc to a “hold” rating and boosted their price target for the stock from GBX 3,500 ($45.20) to GBX 3,850 ($49.72) in a report on Thursday, July 27th. Finally, Shore Capital reissued a “hold” rating on shares of NEXT plc in a report on Thursday, August 3rd. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. NEXT plc presently has a consensus rating of “Hold” and a consensus price target of GBX 4,489.10 ($57.98).
NEXT plc (NXT) traded up 1.02% during mid-day trading on Friday, hitting GBX 5045.00. 1,306,682 shares of the stock were exchanged. The stock’s 50-day moving average is GBX 4,229.86 and its 200 day moving average is GBX 4,136.47. NEXT plc has a 52 week low of GBX 3,565.00 and a 52 week high of GBX 5,225.00. The company’s market capitalization is GBX 7.20 billion.
In related news, insider Michael J. Roney acquired 9,061 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average cost of GBX 4,386 ($56.64) per share, for a total transaction of £397,415.46 ($513,257.73). Also, insider Caroline Goodall acquired 450 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average price of GBX 4,294 ($55.46) per share, for a total transaction of £19,323 ($24,955.44).
NEXT plc Company Profile
NEXT plc is a United Kingdom-based retailer offering clothing, footwear, accessories and home products. The Company’s segments include NEXT Retail, a chain of over 500 stores in the United Kingdom and Eire; NEXT Directory, an online and catalogue shopping business with over four million active customers and international Websites serving approximately 70 countries; NEXT International Retail, with approximately 200 mainly franchised stores; NEXT Sourcing, which designs and sources NEXT branded products; Lipsy, which designs and sells Lipsy branded younger women’s fashion products, and Property Management, which holds properties and property leases which are sub-let to other segments and external parties.
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