J.P. Morgan Overweight On Gartner (IT)

J.P. Morgan Chase & Co. is Overweight on Gartner Inc. IT, and it has a $35 price target on shares. In a note to clients, J.P. Morgan writes, "We are reiterating our Overweight rating on Gartner shares following Q3,10 results. EPS of $0.23 (+44%) was in line with J.P. Morgan and consensus. (That excludes $0.03 of integration costs related to the Burton and AMR acquisitions.) The underlying core Research business continues to strengthen. Contract value rose 11% organic, ex currency, v. +8% in Q2 and +3% in Q1. We like Gartner's business due to its sizable market opportunity, formidable competitive position, operating leverage, and cash generation. Our December 2011 price target is $35." Shares of IT are up 8 cents this morning to $31.47, a gain of 0.25%.