J.P.Morgan Highlights Recent Manager Meetings With Gartner Inc. (IT)

J.P.Morgan is out with a report where it reiterates its “overweight” rating on Gartner Inc. IT; it also raised its target price on the stock to $35.00 from $30.00. Analysts think the company could see some profit taking in the short-term after shares jumped 9% last week. J.P.Morgan recently met with Gartner Management and focused discussions on the selling environment, the integration of the recent AMR and Burton acquisitions, sales force expansion and productivity, and M&A prospects. J.P.Morgan mentions a possible 3-6% price increase by Gartner in 2011 following 2010’s 3% price increase and a 2.0-2.5% increase in 2009. Customers continue to pursue key projects, as new business grew 35% in Q2 and 50% in Q1. The analysts at J.P.Morgan noted, “We believe Gartner will outperform in the coming quarters in a sluggish, but relatively stable economic environment based on accelerating, near 30% estimated earnings growth over the next two years.” Shares of IT are currently trading at $27.84.