Versigent Plc: Strong out of the Gate

Research evidence excerpt

M

Idea

August 5, 2026 03:37 AM GMT

Morgan Stanley & Co. LLC

Versigent Plc | North America

Andrew S Percoco

Equity Analyst

Strong out of the Gate

Daniela M Haigian

Equity Analyst

What’s Changed

Versigent Plc (VGNT.N)

From

To

Price Target

$51.00

$58.00

Jahvonte G Bain

Research Associate

Katherine A Bennorth

Research Associate

AlphaSignals Earnings Reaction

Strengthens our thesis

Modest upside

Largely unchanged

Impact to our thesis

Financial results versus consensus

Direction of next 12-month

consensus EPS

Source: Company data, Morgan Stanley Research

VGNT delivered a solid first full quarter as a standalone

company, with robust China export growth and disciplined

execution driving a strong earnings beat. Adjacent markets

provide incremental upside to the current outlook. Increasing

our price target to $58, reiterate OW.

Strong execution out of the gate. Revenue of $2.4bn rose 11%, or 5% ex-FX and

commodities, with adjusted EBITDA up 25% to $272m (MSe: $244m / Cons: $238m)

Versigent Plc (VGNT.N, VGNT-W UN)

Autos & Shared Mobility | United States of America

Stock Rating

Industry View

Price target

Shr price, close (Aug 4, 2026)

Mkt cap, curr (mm)

52-Week Range

Fiscal Year Ending

Overweight

In-Line

$58.00

$45.80

$3,292

$50.67-26.37

12/25 12/26e 12/27e 12/28e

EPS ($)**

Prior EPS ($)**

P/E

EPS ($)§

Div yld (%)

9.04

7.34

7.08

6.3

6.95

0.5

8.10

8.11

5.7

7.71

0.9

9.49

9.46

4.8

8.68

1.1

guidance increased to $9.4-9.6bn on copper pass-throughs and FX, with EBITDA of

Unless otherwise noted, all metrics are based on Morgan Stanley ModelWare

framework

** = Based on consensus methodology

§ = Consensus data is provided by Refinitiv Estimates

e = Morgan Stanley Research estimates

$950m-$1.03bn and free cash flow of $200-300m both reaffirmed for the year.

Quarterly EPS ($)

China export mix is doing the heavy lifting. Asia Pacific grew 24%, or 15% adjusted

Quarter

2025

Q1

Q2

Q3

Q4

1.55

1.91

1.89

3.73

and margin up 120 bps to 11.1% on a $38m net performance contribution. 2026 sales

for FX and commodity related movements, to roughly $825m while EMEA fell 6% to

$524m and declined 11% on an adjusted basis. The net of these regions should be

…