Dillard's: Deutsche Bank Upgrades to Buy, Ups Estimates, Boosts Price Target to $28

Analysts at Deutsche Bank Securities upgraded Dillard's, Inc. (NYSE: DDS) to a "buy" rating, while raising their estimates for the company. The target price for DDS is set to $28.00; this represents a premium of 98% over yesterday’s closing price of $14.28.

The firm increased their estimates for Q4:09 EPS to $1.10, up from $0.17 previously. While their new FY09 EPS estimate is $0.80 from ($0.61), earlier. FY10 EPS is also revised to $1.25 from $0.43.

The Firm said, “We do not believe it is very likely that Dillard's is looking to sell large blocks of stores, particularly in the current challenging credit environment, and therefore only attribute a small probability to this vale in arriving at our price target.”

In pre-market trading, shares of DDS are up 4.76%.