Next plc (NXT – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Richard Edwards from Goldman Sachs upgraded the rating on the stock to a Buy and gave it a p14,000.00 price target.
Richard Edwards has given his Buy rating due to a combination of factors including Next plc’s strong international growth and its ability to outperform the UK market. The company is seen as a growth-oriented retailer with a relatively stable share price and significant potential for international expansion from its current position. Additionally, Next’s established online platform in the UK further supports its growth prospects.
Edwards also highlights the company’s continued momentum in its international business, with expectations of rising market share and substantial revenue growth in the coming years. The recent data indicates a recovery in UK retail sales, with Next showing notable outperformance. Furthermore, the company benefits from limited exposure to US tariffs and potential advantages from sourcing in Asia, which could lead to better pricing negotiations. These factors collectively contribute to the upgraded Buy rating with a price target increase.
In another report released on March 31, Jefferies also maintained a Buy rating on the stock with a p13,000.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NXT in relation to earlier this year.