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Fly News Breaks for March 4, 2019
DDS
Mar 4, 2019 | 06:42 EDT
JPMorgan analyst Matthew Boss downgraded Dillard's to Underweight from Neutral and lowered his price target for the shares to $57 from $68. The stock has rallied 25% year-to-date and now trade at 20 times estimated fiscal 2020 earnings, or double the mall-based department store/specialty average, Boss tells investors in a research note. Further, the analyst's work suggests a combination of Dillard's-specific top and bottom-line lead indicators are turning negative.
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