Versigent initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Versigent (VGNT) with an Overweight rating and $35 price target The company is the global leader in auto wiring with scale and leading margins, the analyst tells investors in a research note. Wells says Versigent should have better growth and margins than peers, but trades at 4.0-times 2026 estimated EBITDA, a discount to peers at greater than 5.0-times.