Wunderlich Maintains Buy on Vasco Data Security International
Wunderlich is out with its report today on Vasco Data Security International (NASDAQ: VDSI), maintaining Buy.
In its report, Wunderlich writes, "Industry trade rags broke news that a fraudulent digital certificate good for any Google website had been issued by DigiNotar, which was acquired by Vasco earlier this year for $12.9 million. Vasco has not yet made any public comment regarding the means by which this certificate was obtained and how it will prevent future issuance of fraudulent certificates. We do not see this event as having a potentially material adverse effect on Vasco's historical strong authentication business so we see the potential impact to the financial model as fairly limited. Accordingly, we maintain our Buy recommendation and will continue to assess the impact of this event on VDSI's business model."
Wunderlich maintains a $15.50 PT on VDSI.
At the time of posting, shares of VDSI were trading at $7.09, down 4.70% from Monday's close.
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