UBS Maintains a 'Buy' on Limited Brands (LTD); Solid Q1 with Impressive Margins; Momentum to Continue, Remains a Top Pick

UBS maintains a 'Buy' on Limited Brands (NYSE: LTD), PT increased by $2 to $47.

UBS analyst says, "Q1 solid with record margins; Q2 guide impresses (yet still conservative)...We are pleased to see revised FY11 guidance of $2.25-2.45 (formerly: $2.15-2.35), reflecting more robust comp guidance (+L-MSD) and gross margins slightly up (previously guided to flat). Share count is guided down (318 M), pointing to plans for further repurchase. Capex is now planned slightly up ($400-425 vs $400 M). FCF is projected to be $650 M (formerly $600 M)...Our 2Q estimate remains $0.43, FY11E goes to $2.45 from $2.38."

For more ratings news on Limited Brands click here and for the rating history of Limited Brands click here.

Shares of Limited Brands closed at $42.45 yesterday.

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