Versigent initiated with a Buy at UBS

UBS initiated coverage of Versigent (VGNT) with a Buy rating and $43 price target The firm views the stock’s valuation multiple as “too dire.” It sees the shares re-rating “as long as management commits to a consistent capital return program.” A potential buyback authorization and/or dividend initiation are likely positive catalysts for Versigent, the analyst tells investors in a research note.