Singer Capital maintains a “buy” rating for Ted Baker after strong trading from 1 November to 24 December. Retail sales growth for this period was 19.1 per cent and trading was up 14.3 per cent year-on-year. It says Ted Baker’s collections are doing well and has revised its target price from 505p to around 530p.
MITCHELLS & BUTLERS
Astaire rates pub group Mitchells & Butlers a “buy”, despite the likelihood of an eventful annual general meeting on 28 January because of its dispute with Elpida and Piedmont. Christmas trading was strong, and was up 4.9 per cent over the 10 days of Christmas. It adds that London and residential pubs performed strongly.
ABERDEEN ASSET MANAGEMENT
Evolution retains a “neutral” recommendation for Aberdeen Asset Management, which is acquiring £13.5bn of funds under management from Royal Bank of Scotland for £84.7m. Although the assets are being bought for less than one per cent of funds under management, 84m shares are set to be placed to fund the acquisition.