Dillard’s price target lowered to $330 from $410 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Dillard’s to $330 from $410 and keeps a Market Perform rating on the shares. The company reported an “impressive” Q3 earnings beat, with “another substantial” EPS beat and better than expected gross margin and SG&A deleverage, which offset the slightly lower revenue, the analyst tells investors. Topline trends, however, are slowing in September and the firm is concerned over a broader wallet share shift away from apparel and accessories.