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Fly News Breaks for May 21, 2018
DDS
May 21, 2018 | 06:20 EDT
BofA/Merrill analyst Heather Balsky double upgraded Dillard's to Buy from Underperform and raised its price target to $89 from $60 saying she expects improved consumer sentiment, especially in the energy market, to support positive comps and drive multiple expansion. Balsky said Dilliard's has high exposure to the Texas and Oklahoma region with 23% of stores and believes an energy recovery will be a tailwind. Additionally, the analyst expects positive comps to support buybacks and multiple expansion.
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