Insight Enterprises downgraded to "market perform"

09/02/03 - Raymond James

NEW YORK, September 2 (New Ratings) – Analyst Brian G Alexander of Raymond James downgrades Insight Enterprises Inc (NSIT) from "outperform" to "market perform."

In a research note published this morning, the analyst mentions that the current valuation of the company’s stock is unattractive. The company may lose some sales due to its decision to charge sales tax to US customers, the analyst adds. The company’s stock has hit the former target price of $18 ahead of the forthcoming Q4, and reflects limited earnings visibility, the analyst believes. The 2004 and 2005 EPS estimates have been reduced from $1.00 to $0.93 and from $1.44 to $1.36, respectively.