Dillard’s price target lowered to $196 from $198 at UBS

UBS lowered the firm’s price target on Dillard’s (DDS) to $196 from $198 and keeps a Sell rating on the shares. The firm’s conversations suggest the market has started to price in U.S. tax cuts, reduced government spending, and deregulation, but UBS still thinks the market still underestimates how these actions could supercharge apparel and footwear spending as well as sentiment, the analyst tells investors in a research note. Additionally, the market remains focused on tariff risk, but the firm’s analysis suggests Softline company earnings wouldn’t be majorly impacted.