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Ted Baker shares jump nearly 5% on outlook hopes

Discussion in 'Market News' started by Lily, May 4, 2016.

  1. Lily

    Lily Forum Member

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    Analysts at company’s broker say concerns on China and US are overdone

    Shares in Ted Baker have been under pressure for much of this year, and were recently hit by a sell note from analysts at Panmure Gordon despite the clothing chain reporting a 20% rise in annual profits.

    But now analysts at the company’s house broker Liberum have given some support to the shares, which have jumped nearly 5% to £23.76. Liberum’s Tom Gadsby issued a buy note and raised his target price from £31 to £37. He said:

    The stock is down 22% year to date as wider concerns over China and US Wholesale have, wrongly in our view, impacted Ted. We address investors’ concerns and find the company in good shape.

    In a challenging environment we believe that Ted will outperform its peers given the strength of the brand and the channels to market. Despite a tough market in teh second half of 2015 for luxury goods and retail Ted performed well with Retail sales growth of 8% and total sales growth of 12%.

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