Credit Suisse Upgrades Dillard's Inc. (DDS) to Outperform

September 28, 2016 7:05 AM EDT
Get Alerts DDS Hot Sheet
Price: $60.60 +3.95%

Rating Summary:
    1 Buy, 3 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 50 | New: 20
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Credit Suisse upgraded Dillard's Inc. (NYSE: DDS) from Neutral to Outperform with a price target of $70.00 (from $63.00).

Analyst Michael Exstein commented, "We are upgrading DDS on the company's consistency in capital allocation that stretches over a decade now. At the same time, the company has focused on localization of merchandising and remains the only regional buying structure in the industry. While we do not expect a significant improvement in reported profitability, we believe the company will continue to reduce overall debt and buy back stock, effectively reducing the enterprise value. Our new price target is $70 based on FY2 EV/EBITDA of 4.8x, the lowest valuation in the group (other than SSI) and at the low end of its historic trading range."

For an analyst ratings summary and ratings history on Dillard's Inc. click here. For more ratings news on Dillard's Inc. click here.

Shares of Dillard's Inc. closed at $58.21 yesterday.

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