Jefferies Upgrades Vera Bradley (VRA) to Buy, Sees Top-Line Improvement
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Price: $3.33 --0%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies upgraded Vera Bradley (NASDAQ: VRA) from Hold to Buy with a price target of $35.00 (from $22.00).
The firm comments, "Following recent meetings with mgmt, we are upgrading VRA as we expect top-line improvement to continue and believe margins are at a positive inflection point. Meanwhile, the company is still in an early growth stage with room to more than quadruple its current store base. We believe sentiment is overly negative and view current valuation as compelling. We upgrade shares to Buy, PT goes to $35."
The firm raised Q4 EPS estimates from $0.56 to $0.58, FY12 from $1.64 to $1.66 and FY13 from $1.80 to $1.95.
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 $24.14 yesterday.
The firm comments, "Following recent meetings with mgmt, we are upgrading VRA as we expect top-line improvement to continue and believe margins are at a positive inflection point. Meanwhile, the company is still in an early growth stage with room to more than quadruple its current store base. We believe sentiment is overly negative and view current valuation as compelling. We upgrade shares to Buy, PT goes to $35."
The firm raised Q4 EPS estimates from $0.56 to $0.58, FY12 from $1.64 to $1.66 and FY13 from $1.80 to $1.95.
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 $24.14 yesterday.
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