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Ted Baker upgraded by Jefferies

25 April 2016 14:51

Jefferies has upgraded its investment rating on Ted Baker (LON:TED) to buy from hold, believing there is a window of opportunity for investors.

The broker reckons the fashion retailer will continue to outperform peers through a combination of its top-line growth, healthy order book, differentiated business model and continued international expansion.

It said: "The brand's quirkiness, quality offering at affordable prices, nimble business model and international expansion potential remain attractive features of the group.

"We believe TED can continue to outperform its peers in the mid-term, albeit on a more normalised c15% growth after an exceptional streak of over 20% in the past 3yrs."

Nevertheless, analysts have cut their price target to 3,000 pence a share (from 3,400 pence), which they say is in line with a circa 12 per cent sector derating.

At 2:51pm: (LON:TED) Ted Baker Plc share price was +162.5p at 2578.5p

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