UPDATE: Jefferies Downgrades Vera Bradley to Hold Post Q1
Jefferies reduces its rating on Vera Bradley (NASDAQ: VRA) and cuts its price target from $45 to $25 .
Jefferies comments, "This downgrade is simple: sales are slowing and margins are not expanding which is not a good sign for a growth story. While we are admittedly late to call this one and have been wrong thus far, we are still choosing to take the hit now as we see few catalysts to get the stock moving in the near term."
VRA closed at $21.87 on Thursday.
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