KeyBanc Downgrades Vera Bradley (VRA) to Sector Weight
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
KeyBanc downgraded Vera Bradley (NASDAQ: VRA) from Overweight to Sector Weight and removed its price target. Analyst Edward Yruma sees risk to earnings.
"While we think that Vera Bradley’s efforts to reboot the brand are helping improve results, we see downside risk to earnings and downgrade the stock to Sector Weight. On balance, we think that the management-driven reboot has been successful (and is reflected in the stock, +20% YOY), but given gross margin that is now in excess of previous peak levels, sales leverage is necessary. We are lowering our 2016 EPS estimate to $0.85," said the analyst.
Shares of Vera Bradley closed at $15.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesKeyBanc, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!