Insight Enterprises initiated with a Buy at Redburn Atlantic

Redburn Atlantic analyst Harry Read initiated coverage of Insight Enterprises (NSIT) with a Buy rating and $220 price target The company has pivoted towards services and integration revenues via acquisitions, which s the correct strategy to capture additional share of the customer wallet and larger mandates, the analyst tells investors in a research note. Given a reset in expectations on customer delayed spending, Redburn believes that the higher services portion positions Insight well to return to high-single-digit organic gross profit growth in the medium and longer term.