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Fly News Breaks for November 15, 2018
DDS
Nov 15, 2018 | 15:27 EDT
BofA Merrill Lynch analyst Heather Balsky downgraded Dillard's two notches, to Underperform from Buy, stating that her previous rating assumed a recovery in energy regions would boost comps and lead to multiple expansion, but that recent energy price volatility and moderating economic growth in Texas has decreased her confidence in that view. Noting that comps are about to get harder as well, Balsky cut her FY18 and FY19 EPS estimates and lowered her price target on Dillard's shares to $55 from $102.
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