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Fly News Breaks for July 7, 2015
DDS
Jul 7, 2015 | 07:44 EDT
BofA/Merrill downgraded Dillard's to Underperform from Neutral and lowered its price target to $95 from $130. The firm believes sales pressures are building and margin expansion opportunities are played out, and expects the company to miss consensus estimates. BofA/Merrill lowered its 2015 EPS estimate to $7.54 from $8.13 and lowered its margin forecast below consensus to reflect lack of a strong apparel fashion cycle, consumers shifting to big ticket purchases, and increasing competition, among other reasons.
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