June 19, 2019 / 1:53 PM / a month ago

BUZZ-Ted Baker: Hits another record low as HSBC cuts PT to lowest on Street

** Shares of British fashion retailer Ted Baker fall 7.5% to a record low of 827.5p after HSBC slashed its PT by more than half

** HSBC cuts TED’s PT to 900p from 1900p; stock already trading ~8% lower than brokerage’s PT

** Lowering of price target makes HSBC’s PT the lowest among brokerages on Street covering TED

** Majority of 8 brokerages covering the stock have a ‘hold’ rating with median PT of 1,314.84p - Refinitiv Eikon data

** Stock continues to suffer, down ~46% this year; shares have not posted yearly gains since 2015

** Last week, shares tanked ~29% after co warned 2019 underlying profit would miss estimates after “extremely difficult” start to year

Reporting by Yadarisa Shabong in Bengaluru

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