NEXT (LON:NXT) PT Raised to GBX 3,731 at Canaccord Genuity

NEXT (LON:NXT) had its target price upped by Canaccord Genuity from GBX 3,714 ($50.37) to GBX 3,731 ($50.60) in a research report issued to clients and investors on Thursday, January 4th. The firm presently has a “sell” rating on the stock. Canaccord Genuity’s price objective would indicate a potential downside of 25.23% from the stock’s previous close.

A number of other brokerages also recently commented on NXT. Goldman Sachs Group reiterated a “sell” rating and set a GBX 4,240 ($57.50) price target on shares of NEXT in a report on Thursday, January 4th. reiterated a “reduce” rating and set a GBX 3,800 ($51.53) price target on shares of NEXT in a report on Thursday, November 2nd. Jefferies Group lifted their price target on shares of NEXT from GBX 4,600 ($62.38) to GBX 5,200 ($70.52) and gave the stock a “hold” rating in a report on Friday, September 15th. Royal Bank of Canada restated a “sector performer” rating and issued a GBX 4,500 ($61.03) target price on shares of NEXT in a report on Wednesday, January 3rd. Finally, Deutsche Bank restated a “hold” rating and issued a GBX 4,400 ($59.67) target price on shares of NEXT in a report on Monday, October 16th. Thirteen research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. NEXT presently has a consensus rating of “Hold” and an average target price of GBX 4,294.45 ($58.24).

Shares of NEXT (NXT) traded up GBX 27 ($0.37) during midday trading on Thursday, hitting GBX 4,990 ($67.67). 1,110,430 shares of the stock were exchanged, compared to its average volume of 638,018. The stock has a market capitalization of $7,290.00 and a P/E ratio of 1,165.89. NEXT has a 1-year low of GBX 3,565 ($48.35) and a 1-year high of GBX 5,355 ($72.62).

In related news, insider Michael J. Roney purchased 405 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of GBX 4,313 ($58.49) per share, with a total value of £17,467.65 ($23,688.16).

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About NEXT

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.

Analyst Recommendations for NEXT (LON:NXT)

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