KeyBanc Downgrades Vera Bradley (VRA) to Hold; Moving To Sidelines After Recent Run

KeyBanc downgraded Vera Bradley (NASDAQ: VRA) from Buy to Hold.

KeyBanc analyst says, "We think that Vera Bradley has one of the most compelling long-term wholesale-to-retail stories within our coverage, but the recent stock performance and our near-term margin concerns move us to the sidelines. Since our initiation at BUY on November 30, 2010, VRA has risen 18.7% vs. 14.9% for the S&P 500 over the same time frame. Vera Bradley has, in our opinion, a unique lifestyle brand and a significant new store opportunity (56 stores today, 14-20 new stores per annum). While our very positive long-term bias has not changed, we step to the sidelines in the short term given the recent performance of the stock."

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 $36.80 yesterday.

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