Cowen Upgrades Vera Bradley (VRA) to Market Perform

Cowen upgraded Vera Bradley (NASDAQ: VRA) from Underperform to Market Perform with a price target of $17.00 (from $15.00), saying they have improved confidence that comps are not going to decelerate.

Analyst Oliver Chen commented, "We upgrade VRA to Market Perform as we have increased confidence in VRA’s ability to improve its comp trajectory & possibly reach positive comps by 1Q16. Why now? Sequential comp improvement during 2Q/3Q, gross margin improvement on lower promos, & cotton assortment reaching target mix of ~45-50%."

For an analyst ratings summary and ratings history on Vera Bradley click here. For more ratings news on Vera Bradley click here.

Shares of Vera Bradley closed at $16.16 yesterday.

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