NEXT (NXT) Price Target Cut to GBX 3,800 by Analysts at Berenberg Bank

NEXT (LON:NXT) had its price objective decreased by Berenberg Bank from GBX 4,000 ($56.15) to GBX 3,800 ($53.34) in a research note issued to investors on Tuesday. Berenberg Bank currently has a hold rating on the stock.

A number of other research firms have also issued reports on NXT. Goldman Sachs reiterated a sell rating and issued a GBX 4,240 ($59.52) target price on shares of NEXT in a research note on Thursday, January 4th. Deutsche Bank reiterated a hold rating and issued a GBX 4,700 ($65.97) target price on shares of NEXT in a research note on Wednesday, January 31st. Royal Bank of Canada reiterated a sector performer rating and issued a GBX 4,500 ($63.17) target price on shares of NEXT in a research note on Wednesday, January 3rd. Peel Hunt reiterated a hold rating and issued a GBX 5,000 ($70.19) target price on shares of NEXT in a research note on Friday, March 23rd. Finally, Credit Suisse Group restated an underperform rating and issued a GBX 4,500 ($63.17) price target on shares of NEXT in a research report on Monday, March 26th. Twelve investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. NEXT currently has a consensus rating of Hold and a consensus price target of GBX 4,386.40 ($61.57).

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LON:NXT opened at GBX 4,771 ($66.97) on Tuesday. NEXT has a 1 year low of GBX 3,565 ($50.04) and a 1 year high of GBX 5,355 ($75.17).

The firm also recently announced a dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Thursday, July 5th will be given a dividend of GBX 105 ($1.47) per share. This is a positive change from NEXT’s previous dividend of $45.00. This represents a dividend yield of 2.11%. The ex-dividend date is Thursday, July 5th.

In other NEXT news, insider Michael J. Roney bought 1,263 shares of the firm’s stock in a transaction dated Friday, April 6th. The shares were acquired at an average cost of GBX 4,723 ($66.30) per share, for a total transaction of £59,651.49 ($83,733.14).

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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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