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Fly News Breaks for September 28, 2016
DDS
Sep 28, 2016 | 05:53 EDT
Credit Suisse analyst Michael Exstein upgraded Dillard's to Outperform citing the company's consistency in capital allocation and its valuation, which he says is at the low end of its historic trading range. Dillard's will continue to reduce overall debt and buy back stock, Exstein tells investors in a research note. He raised his price target for the shares to $70 from $63. The analyst coupled the upgrade with a downgrade of Macy's (M) to Neutral.
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