Market Overview

UPDATE: JP Morgan Cuts PT to $84 on Dillard's on Q4 Miss

Related DDS
These Brands Just Went All-Out On Black Friday Promotions
Mid-Afternoon Market Update: Dow Surges More Than 200 Points; Dillard's Shares Dip On Earnings Miss
Department stores stocks weak on holiday sales anxiety (Seeking Alpha)

JP Morgan maintained Dillard's (NYSE: DDS) with a Neutral rating and lowered the price target from $90.00 to $84.00.

JP Morgan commented, "With shares of DDS up 100%+ over the past 18 months today's reaction (down ~10%) to its 4Q EPS print ($2.87 reported or ~$2.71 ex tax benefit vs. Street at $2.90) is not surprising, particularly in light of five consecutive meaningful beats (avg. vs. Street of $0.19) and short interest near a 5-year low into the print (1.9M). That said, fundamentals remain intact with top line (+3.0% SSS) accelerating on a 3-year basis (i.e. 4Q10 inflection point) and gross margin respectable (+35bps core). … Taking a conservative approach, we are reducing our FY13E EPS to $7.00 from $7.20 and lowering our Dec '13 PT to $84 from $90 based on 12.0x P/E."

Dillard's closed at $76.92 on Monday.

Latest Ratings for DDS

Nov 2015Deutsche BankMaintainsHold
Sep 2015Credit SuisseUpgradesUnderperformNeutral
Aug 2015JP MorganDowngradesNeutralUnderweight

View More Analyst Ratings for DDS
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings


Related Articles (DDS)

View Comments and Join the Discussion!

Get Benzinga's Newsletters