Dillard’s price target raised to $202 from $200 at UBS

UBS analyst Mauricio Serna raised the firm’s price target on Dillard’s (DDS) to $202 from $200 and keeps a Sell rating on the shares. The firm expects structural market share losses against other retail channels with more appealing value propositions to pressure Dillard’s sales and margins, the analyst tells investors in a research note. UBS believes the market is under-appreciating the impact on Dillard’s earnings from these headwinds, and says that the soft Q4 comp sales and accelerated year over year gross margin pressures reinforced the firm’s long-term bearish view.