Jefferies Group LLC Raises NEXT plc (LON:NXT) Price Target to GBX 4,600

NEXT plc (LON:NXT) had its price target boosted by Jefferies Group LLC from GBX 3,850 ($50.14) to GBX 4,600 ($59.90) in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have an underperform rating on the stock.

A number of other research analysts have also recently commented on the company. Investec upgraded NEXT plc to a buy rating and increased their price target for the company from GBX 3,900 ($50.79) to GBX 4,750 ($61.86) in a research note on Wednesday, May 10th. Shore Capital reiterated a sell rating on shares of NEXT plc in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) reiterated a neutral rating and issued a GBX 4,250 ($55.35) price target on shares of NEXT plc in a research note on Tuesday, June 20th. Credit Suisse Group lowered NEXT plc to an underperform rating and lowered their target price for the stock from GBX 4,250 ($55.35) to GBX 4,000 ($52.09) in a research report on Thursday, June 15th. Finally, HSBC Holdings plc lowered their target price on NEXT plc from GBX 3,530 ($45.97) to GBX 3,360 ($43.76) and set a reduce rating for the company in a research report on Wednesday, May 17th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of GBX 4,531 ($59.01).

Shares of NEXT plc (NXT) opened at 4367.00 on Friday. NEXT plc has a 52-week low of GBX 3,565.00 and a 52-week high of GBX 5,705.00. The stock’s 50 day moving average price is GBX 3,935.49 and its 200-day moving average price is GBX 4,068.89. The company’s market cap is GBX 6.23 billion.

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The company also recently announced a dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Thursday, October 5th will be paid a GBX 45 ($0.59) dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a dividend yield of 1.02%.

In other news, insider Caroline Goodall bought 450 shares of NEXT plc stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of GBX 4,294 ($55.92) per share, for a total transaction of £19,323 ($25,163.43). Also, insider Michael J. Roney bought 9,061 shares of NEXT plc stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average price of GBX 4,386 ($57.12) per share, with a total value of £397,415.46 ($517,535.43).

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.

Analyst Recommendations for NEXT plc (LON:NXT)

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