Goldman Sachs has reiterated its Buy rating on Next plc (NXT) with a price target of £17,200.00, according to a report published today. Analyst Richard Edwards, who covers the Consumer Cyclical sector, maintains this outlook despite his average return of -2.9% and a 48.79% success rate. Edwards also follows stocks like PUMA SE NPV and Marks and Spencer.
Next plc has also received a Buy rating from UBS’s Sreedhar Mahamkali in a report issued yesterday. However, Barclays has taken a more cautious stance, maintaining a Hold rating on the stock today.
In its latest earnings report for the quarter ending July 31, Next plc reported quarterly revenue of £3.45 billion and a net profit of £419.6 million. This represents growth from last year’s revenue of £3.14 billion and net profit of £379.5 million.
Despite the positive analyst ratings, corporate insider sentiment is negative. Over the past quarter, 19 insiders have increased their selling activity, indicating a lack of confidence in the stock’s near-term prospects.