UPDATE: Cowen Downgrades Vera Bradley (VRA) to Market Perform

(Updated - March 22, 2021 5:31 AM EDT)

Cowen analyst Oliver Chen downgraded Vera Bradley (NASDAQ: VRA) from Outperform to Market Perform with a price target of $12.00.

The analyst comments "We remain excited about VRA's product innovation & partnerships, digital-first mindset, and attractive M&A prospects; however, we lower to Market Perform as VRA is trading near our $12 price target at 12x FY2 P/E, and valuation appears fair given +193% stock run in the last year. Meanwhile, we monitor store traffic, lapping strong masks and e-comm sales, & Pura Vida's infrastructure development."

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 $11.41 yesterday.

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