We are reiterating our Buy rating, $5.50 price target and projections for Vera Bradley after visiting stores in Connecticut and Long Island. With the end of season sales winding down, both the main line and outlet stores are turning to new seasons, with Beach the outlet driver and multiple Spring collections on tap for the main line locations. Further, the Valentine's Day capsule remains a key winner. Although we look forward to the first material round of product tweaks for Spring, we believe the initial 2025 collections for both the outlets and main line locations are, style wise, trending in a positive direction, and we reiterate our Buy rating and $5.50 price target for VRA.
