Markets & Finance

USB Piper Marks Down Limited to 'Neutral'

Limited Inc. (LTD) posted $0.08 vs. $0.17 Q2 EPS. The company sees about a breakeven level of profitability in Q3, with EPS to be down significantly for fiscal 2002. USB Piper downgraded its rating on the shares to neutral from buy.

Analyst Jeffrey Klinefelter says Q2 results were in line with his estimates. He downgraded the shares in light of ongoing poor financial performance. He cut his $0.12 Q3 EPS estimate to a $0.01 loss and his $0.66 Q4 EPS forecast to $0.43.Klinefelter also cut his $1.11 fiscal 2003 (Jan.) EPS estimate to $0.81. He cut his $22 price target to $16.

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