Piper Jaffray Cuts Price Target for Hot Topic

Analyst Jeffrey Klinefelter also lowered his earnings estimates based on the retailer's reduced outlook

Hot Topic (HOTT ) posts 2 cents, vs. 9 cents, second-quarter earnings per share on 3.5% lower same-store sales and 12% higher total sales. Piper Jaffray cuts its price target to $18 from $24 and earnings estimates.

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