Barclays Maintains an 'Overweight' on Gartner (IT); Global Tech Outlook & 2Q11 Preview
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Rating Summary:
8 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Barclays maintains an 'Overweight' on Gartner (NYSE: IT), PT $50.
Barclays analyst says, "Ahead of earnings (likely in late July) we are fine tuning our quarterly estimates for IT, leaving our full year EPS estimate of $1.37 relatively unchanged (vs. prior $1.38). For 2Q11 we are lowering our EPS by $0.04 to $0.29 (to reflect sequentially flat growth, as in prior years) and shifting it to the 4Q (strongest quarter of the year, followed by 3Q, 2Q and 1Q - all of which are sequentially comparable). By segment, we expect (a) Research: sequential improvement in CV growth (14.5% vs. 13.8%) and revenues ($244M vs. $243M); (b) Consulting: being lumpy in nature we estimate sequentially flat to down revenue; and in (c) Events: continued solid double-digit revenue growth, carrying on its momentum from 1Q11."
For more ratings news on Gartner click here and for the rating history of Gartner click here.
Shares of Gartner closed at $38.98 yesterday.
Barclays analyst says, "Ahead of earnings (likely in late July) we are fine tuning our quarterly estimates for IT, leaving our full year EPS estimate of $1.37 relatively unchanged (vs. prior $1.38). For 2Q11 we are lowering our EPS by $0.04 to $0.29 (to reflect sequentially flat growth, as in prior years) and shifting it to the 4Q (strongest quarter of the year, followed by 3Q, 2Q and 1Q - all of which are sequentially comparable). By segment, we expect (a) Research: sequential improvement in CV growth (14.5% vs. 13.8%) and revenues ($244M vs. $243M); (b) Consulting: being lumpy in nature we estimate sequentially flat to down revenue; and in (c) Events: continued solid double-digit revenue growth, carrying on its momentum from 1Q11."
For more ratings news on Gartner click here and for the rating history of Gartner click here.
Shares of Gartner closed at $38.98 yesterday.
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