After Dillard's posted a 5% same-store sales decrease in the first quarter and also saw a steep merchandise margin decline, Deutsche Bank analyst Paul Trussell lowered his price target on the stock to $55 from $65 and reiterated the firm's Sell rating. Trussell expects the company's FY16 EPS to decrease 15% and does not expect a rebound to positive territory in FY17 given what he views as a lack of growth initiatives. The analyst thinks Dillard's deserves a multiple below its peers given its "particularly sluggish fundamental performance, erratic buyback behavior, sub-par dividend yield, and unwillingness to pursue real estate options."