NSIT - Insight downgraded at JPMorgan on valuation concerns

With shares trading through the firm's price target, JPMorgan downgrades Insight (NSIT) from Overweight to Neutral and maintains the $106 price target.Analyst Paul Coster notes that the stock has re-rated by more than two EBITDA turns on the year with the stock up over 110% and 40% YTD."We think the stock is close to fair value here and there are better risk-reward trade offs elsewhere in our coverage universe," writes Coster.Insight shares are down 1.9% pre-market to $104.60.NSIT has a Bullish average Wall Street analyst rating among the five analysts tracked by Seeking Alpha.

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Insight downgraded at JPMorgan on valuation concerns