Berenberg lowers target price on Next Fifteen
By Iain Gilbert
Date: Tuesday 15 Apr 2025
(Sharecast News) - Analysts at Berenberg lowered their target price on advertising firm Next Fifteen from 790.0p to 660.0p on Tuesday, citing a "cautious outlook".
Berenberg said Next Fifteen's FY25 results showed that group net revenue was down 1% year-on-year at £569.7m, while adjusted underlying earnings came to £107.5m, both of which were in line with consensus. Adjusted EPS was 69.3p, 3% below consensus.
The German bank also stated that Next Fifteen's balance sheet remained "robust", with net debt of £38.4m, and pointed out that the shares were trading on a FY26 price-to-earnings ratio of 5x.
In terms of the outlook, Next Fifteen's management noted that the group's current performance was broadly in line with internal expectations.
However, Berenberg adjusted its FY26 forecasts for Next Fifteen by reducing net revenue forecasts by 2%, adjusted underlying earnings by 6%, and adjusted EPS by 9%.
Reporting by Iain Gilbert at Sharescast.com
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