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

NEXT plc (LON:NXT) had its price target increased by research analysts at Jefferies Group LLC from GBX 3,850 ($50.14) to GBX 4,600 ($59.90) in a report released on Friday. The firm currently has an “underperform” rating on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 4.55% from the stock’s previous close.

Other analysts have also issued research reports about the stock. HSBC Holdings plc reduced their price target on shares of NEXT plc from GBX 3,530 ($45.97) to GBX 3,360 ($43.76) and set a “reduce” rating on the stock in a research report on Wednesday, May 17th. Barclays PLC reiterated an “underweight” rating and set a GBX 3,900 ($50.79) price target on shares of NEXT plc in a research report on Friday, June 30th. J P Morgan Chase & Co reissued a “neutral” rating and issued a GBX 4,580 ($59.64) price objective on shares of NEXT plc in a research note on Friday, August 4th. Shore Capital reissued a “sell” rating on shares of NEXT plc in a research note on Monday, May 15th. Finally, Peel Hunt reissued a “hold” rating and issued a GBX 4,200 ($54.69) 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 assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of GBX 4,531 ($59.01).

Shares of NEXT plc (LON NXT) opened at 4400.00 on Friday. The firm’s market cap is GBX 6.28 billion. The company has a 50 day moving average of GBX 3,935.49 and a 200-day moving average of GBX 4,068.89. NEXT plc has a one year low of GBX 3,565.00 and a one year high of GBX 5,705.00.

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

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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