Market Overview

UPDATE: Citi Downgrades Vera Bradley; Lowers PT

Share:
Related VRA
5 Stocks Ronnie Moas Just Upgraded -- And A Way To Play The Falling Market
Mid-Morning Market Update: Markets Mostly Flat; Newell Rubbermaid To Buy Jarden

According to a research report published this morning, Citi has downgraded Vera Bradley (NASDAQ: VRA) from Buy to Neutral, and lowered PT from $48 to $24.

Citi mentioned in the report, "We cont. to believe in the long-term sustainability of product & differentiated growth prospects across channels but are lowering our rating to Neutral (from Buy) with $24 price target as we believe stock may not go higher in near-term given: work through of inventory in indirect channel, high 4Q EPS growth need to make FY guidance (we model +34%), cannibalization risk as indirect still remains a large percentage of total (~50%), and decelerating comp store sales (but still +DD on 2-yr stack we acknowledge). Key controversy overhang: can VRA manage to grow in Indirect while expanding direct through new stores, new dept stores, & eComm."

Vera Bradley is currently trading at $20.69.

Latest Ratings for VRA

DateFirmActionFromTo
Feb 2016Standpoint Research
Jan 2016Standpoint ResearchUpgradesHoldBuy
Dec 2015Cowen & CompanyUpgradesUnderperformMarket Perform

View More Analyst Ratings for VRA
View the Latest Analyst Ratings

Posted-In: CitiAnalyst Color Downgrades Price Target Analyst Ratings

 

Related Articles (VRA)

View Comments and Join the Discussion!

Get Benzinga's Newsletters