Scansource downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Scansource to Market Perform from Outperform without a price target. The stock’s 20% run year-to-date now pushes most valuation metrics to multi-year highs while Scansource’s core end markets remain generally soft, the analyst tells investors in a research note. The firm believes it makes sense “to take some chips off the table for now” due to valuation.