Versigent initiated with an Overweight at Morgan Stanley

Morgan Stanley initiated coverage of Versigent (VGNT) with an Overweight rating and $51 price target implying 27% upside. The company plays a “foundational role” in vehicle electrical architecture, supplying signal, power, and data distribution systems that connect key vehicle components, the analyst tells investors in a research note. The firm says Versigent’s products should see strong demand as long-term electrification and autonomy trends increase electronic content and electrified powertrain adoption.