Piper Jaffray rates shares of Gartner Inc. IT at Overweight and has a $28 price target on the information technology company.
In the report Piper Jaffray notes, "We expect Gartner's 2Q results on 8/9 to be a replay of 1Q performance, with healthy new sales growth and rising wallet retention rates driving accelerating revenue growth and associated margin expansion. While shares have been star performers YTD (up 40.6% vs 1.0% for the S&P500), we continue to be buyers of the stock ahead of quarterly earnings in the context of an upward bias to estimates and price target." "Gartner's shares have been exceptional performers thus far in 2010, with a YTD gain of 40.6% vs 1.0% for the S&P500. To the extent that robust 2Q results provide upside to 2010 and 2011 earnings estimates, we see a potential upward bias to our current $28 price target. We would feel comfortable establishing or increasing positions in IT ahead of 2Q earnings in the mid-$20s."
Shares of Gartner are down 6 cents to $25.31.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: Analyst ColorEarningsNewsGuidancePrice TargetMarketsAnalyst RatingsInformation TechnologyIT Consulting & Other ServicesPiper Jaffray
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in