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Limited Brands Upgraded To Buy By Citigroup

MarketWatch Pulse NEW YORK -- Limited Brands Inc. stock was upgraded to buy from hold by Citigroup. Analyst Kimberly Greenberger said the company's free cash flow is enough to pay its $200 million dividend without tapping into its cash of about $1 billion. She also said the clothing retailer has more than enough liquidity without the need to access credit markets over the next three years as there are no significant maturities until August 2012. While she expects Limited may violate one of its financial covenant terms this year, she said the company should be able to get relief and restructure the terms.