NEXT plc (NXT) Given “Sell” Rating at Berenberg Bank
NEXT plc (LON:NXT)‘s stock had its “sell” rating reissued by investment analysts at Berenberg Bank in a research note issued to investors on Wednesday. They currently have a GBX 3,650 ($48.17) price target on the stock. Berenberg Bank’s target price would suggest a potential downside of 25.83% from the company’s current price.
A number of other equities research analysts have also recently issued reports on NXT. Deutsche Bank AG restated a “hold” rating and issued a GBX 4,250 ($56.08) price objective on shares of NEXT plc in a research note on Tuesday, July 18th. HSBC Holdings plc restated a “reduce” rating and issued a GBX 3,360 ($44.34) price objective on shares of NEXT plc in a research note on Friday, July 21st. Jefferies Group LLC upgraded NEXT plc to a “hold” rating and boosted their price objective for the company from GBX 3,500 ($46.19) to GBX 3,850 ($50.80) in a research note on Thursday, July 27th. Barclays PLC restated an “underweight” rating and issued a GBX 3,900 ($51.46) price objective on shares of NEXT plc in a research note on Tuesday, August 1st. Finally, Peel Hunt restated a “hold” rating and issued a GBX 4,200 ($55.42) price objective on shares of NEXT plc in a research note on Thursday, August 3rd. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of GBX 4,470.05 ($58.99).
In related news, insider Caroline Goodall purchased 450 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average cost of GBX 4,294 ($56.66) per share, for a total transaction of £19,323 ($25,498.81).
About NEXT plc
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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