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Fly News Breaks for June 24, 2019
NSIT, PCMI
Jun 24, 2019 | 13:13 EDT
Stifel analyst Matthew Sheerin said Insight Enterprises' (NSIT) agreement to acquire competitor PCM Inc. (PCMI) strengthens the company's position in small-to-mid business markets and he sees significant cross-selling opportunities. He sees no reason Insight shouldn't realize its synergies target, barring a big drop in IT spending, pointing to the company's "strong M&A track record." Sheerin raised his price target on Insight shares to $60 from $54 following the deal announcement, but keeps a Hold rating on the stock.
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