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

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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

DateFirmActionFromTo
Jul 2015Deutsche BankInitiates Coverage onHold
Jun 2015Deutsche BankInitiates Coverage onHold
Jun 2015Deutsche BankInitiates Coverage onHold

View More Analyst Ratings for DDS
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

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