Is the DB on the same server? Are you planning to migrate the data to the new server or start fresh?
If you are starting fresh, you'll want to keep the names separate so when agents move over they know they are on a new NS and don't try reporting status for policies which never existed on the new NS. If you are migrating everything over and using the same DB, I'd create a DNS alias for the existing server, point all agents to the alias (using the targeted agent settings). That way you can build the new NS with a separate name, get all data restored, and adjust the alias to point to the new server.
One catch with using an alias is if you are using CEM or HTTPS, your certificates for the SMP must contain both the actual FQDN and the Alias FQDN in the certificate SAM. You'd need to add the alias to your CEM gateway as well since that is the name agents will be looking for. I suppose you could avoid these pitfalls by keeping the new server name the same but then you can't have both systems online at the same time.
I built our ITMS using an alias from day one exactly for this reason. Nothing is refering to the actual server name. So far I've not had the need to swap out the NS behind the scenes but I can say the alias has worked well.