Gartner (IT) PT Raised to $381 at Goldman Sachs

Goldman Sachs analyst George Tong raised the price target on Gartner (NYSE: IT) to $381.00 (from $332.00) while maintaining a Buy rating following results.

The analyst commented, "Notably, EBITDA margins meaningfully surpassed our expectations in the quarter reflecting revenue upside and improved underlying cost profiles that we expect to extend favorably into 2022. We believe Gartner will sustain healthy double-digit and accelerating CV growth in GTS and GBS driven by sales force headcount growth and productivity gains in a relatively underpenetrated market, with underlying EBITDA margins tracking north of 19% heading into 2022 - well above pre-COVID margins of 16%."

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