Piper Jaffray Maintains Neutral Rating On LEAP

Analysts at Piper Jaffray reiterated their Neutral rating on shares of Leap Wireless International (LEAP) after the company reported disappointing second quarter earnings. In its report, Piper Jaffray lowered its price target for LEAP to $12 from $18, stating that "The company announced changes to its business model, including new all-inclusive pricing, but we remain skeptical that the changes will result in a long-term operational turnaround given the price competitive nature of the pre-paid market." Leap Wireless International, Inc. provides digital wireless services under the Cricket brand name in the United States.