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Fly News Breaks for June 4, 2015
DDS
Jun 4, 2015 | 07:08 EDT
Credit Suisse downgraded Dillard's to Underperform and reduced its price target to $100 from $105. The firm said Dilliard's gross margins and operating margins have expanded near peak levels and has few catalysts left to move them higher. Credit Suisse believes with most of the turnaround behind Dilliard's, it now faces cyclical challenges included accelerating capex, a slowdown in FAB growth, and apparel deflation.
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