Piper Jaffray Maintains Overweight on Gartner (IT)

Piper Jaffray is out with its report today on Gartner IT, maintaining Overweight. In a note to clients, Piper Jaffray writes, "As anticipated, Gartner's investor day was an upbeat affair, reinforcing our confidence in the company's ability to drive 20%+ earnings growth in 2011 and beyond. In the context of the short-term overhang created by ValueAct's planned sale of 8M shares (to be priced after the close on 2/17), we'd find the mid-30s a particularly compelling level to establish or expand positions. No change to our estimates or $42 price target." At the time of posting, shares of IT were trading at $36.33, down 2.47% from Wednesday's close.