Ted Baker surges as Questor says it's a 'buy'

Ted Baker shares surged on Monday after being tipped in the Telegraph’s 'Questor' column over the weekend, ahead of the fashion retailer’s second-quarter trading update on Tuesday.

The column in the Sunday Telegraph took a detailed look at the shares and concluded they’re a ‘buy’.

"If Ted Baker can execute its strategy successfully there is in Questors' view the potential for the shares to double or treble over the next two or three years," wrote Richard Evans.

James Thorne, a UK fund manager at Columbia Threadneedle, told Evans a great deal has changed at the retailer since it was rocked by the "forced hugging" scandal in 2018.

"The new team are bringing lots of energy and effort, and there is no ego – if specific skills are lacking they will get people in," Thorne told Evans. "This is the right attitude. I think Ted Baker’s new management is as good as you could hope for."

At 1120 BST, the shares were up 11% at 171.08p.