Vera Bradley (VRA) PT Lowered to $9 at Cowen
Get Alerts VRA Hot Sheet
Price: $6.68 -1.91%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Cowen analyst Oliver Chen lowered the price target on Vera Bradley (NASDAQ: VRA) to $9.00 (from $10.00) while maintaining an Outperform rating.
The analyst commented, "Robust Margins But Slightly Lower Revenue vs. Estimates. EPS beat Street by +6c on SG&A leverage, partially offset by lower than expected V.B. Direct and Pura Vida revenues. Encouragingly, gross margins expanded ~+100bps on mask sales & lower promotions; better store conversion helped drive -19.1% VB Direct comp as we estimate traffic was down -20 to -30%."
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