Wunderlich Has Hold On VASCO Data Security International (VDSI)

Wunderlich Securities has a Hold rating and a $9.25 price target on shares of VASCO Data Security International, Inc. VDSI.

In a note to clients, Wunderlich writes, "HSBC Holdings (HBC-NR), historically Vasco's (VDSI) largest customer, is rolling out new tokens to all of its online banking customers. There is no opt-out – customers who do not want to use the new token are told on the bank website that they will have to opt out of online banking entirely. With an estimated four million customers, we believe this rollout will take several quarters and offers significant near-term visibility to Vasco's business and should offer a basis for support in the company's shares. We maintain our Hold rating and $9.25 price target on VDSI shares."

Shares of VDSI gained 74 cents on Friday to close at $9.67, a gain of 8.3%.