From Earlier: KeyBanc Capital Markets Upgrades Vera Bradley

KeyBanc Capital Markets upgraded Vera Bradley

from Hold to Buy and established a $26 price target in a research report published today. In the report, KeyBanc Capital Markets stated, "Our original holding on our downgrade was that indirect growth would slow given growth in the owned retail business. We think this phenomenon has come to pass and is adequately reflected in the current valuation. We also believe that the Company has been taking the right steps to ensure long-term inventory quality; we believe that both owned as well as channel inventory remains manageable." Shares of Vera Bradley were trading at $20.95 at the time of posting, up 3.71% from Tuesday's market close.