Wells Fargo & Company Forecasts Strong Price Appreciation for Versigent (NYSE:VGNT) Stock

Key Points

• Wells Fargo raised its price target on Versigent from $35 to $42 and kept an "overweight" rating, implying roughly a 4.2% upside from the prior close.
• A range of brokerages recently initiated or updated coverage—Evercore set a $55 target, UBS $43 and Deutsche Bank $35—resulting in a MarketBeat consensus of "Moderate Buy" and an average target of $43.
• Shares traded up to $40.31 mid-day on volume of about 719,322 (vs. a 3.48M average), and the stock is near its 12‑month high of $40.96 (12‑month low $26.34).

Versigent (NYSE:VGNT - Get Free Report) had its price target lifted by investment analysts at Wells Fargo & Company from $35.00 to $42.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 4.21% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. UBS Group assumed coverage on Versigent in a research report on Tuesday, April 14th. They set a "buy" rating and a $43.00 target price on the stock. Evercore assumed coverage on Versigent in a research report on Tuesday, April 21st. They set an "outperform" rating and a $55.00 target price on the stock. Zacks Research upgraded Versigent to a "hold" rating in a research report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Versigent in a research report on Tuesday, April 28th. They set a "hold" rating and a $35.00 target price on the stock. Finally, Wall Street Zen raised shares of Versigent to a "hold" rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Versigent Price Performance

Shares of NYSE VGNT traded up $2.81 during mid-day trading on Wednesday, hitting $40.31. The stock had a trading volume of 719,322 shares, compared to its average volume of 3,477,291. Versigent has a twelve month low of $26.34 and a twelve month high of $40.96.

Versigent (NYSE:VGNT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $999.00 earnings per share for the quarter.

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