Ted Baker share price tipped to perk up as comparatives get easier

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Ted Baker PLC (LSE:TED) is delivering progress across all its key metrics, according to the fashion retailer’s house broker, Liberum Capital.


Today’s interims revealed that trading has improved quarter-on-quarter with all channels “delivering recovery” and new ranges starting to build momentum.


The broker noted that year-ago comparatives for the current quarter look easy to top and so the next update might add a bit of va-va-voom to a share price that has been relatively flat over the last quarter.


“Growth has accelerated further in Q3, prior year Q4 comparatives are weak and with healthy stock levels as new product lands, this gives good confidence around hitting full year consensus forecasts. Encouragingly management highlights that the group is not experiencing any material supply chain impacts and good progress has been made to mitigate rising costs,” Liberum said.


Ted Baker’s house broker argues that the share price performance does not reflect the more optimistic outlook, the trading momentum improvements or the strong market and financial position.


Liberum has a 12-month target price for Ted Baker of 225p. The shares currently trade at 131.5p, down 4.0% on the day.

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