Gartner price target lowered to $337 from $357 at BMO Capital

BMO Capital lowered the firm’s price target on Gartner to $337 from $357 and keeps a Market Perform rating on the shares. The analyst is updating the firm’s model while noting that it may have been too aggressive in its salesforce hiring assumptions, adding that the new projections now assume a slower growth profile given the current environment. While Gartner offers solid growth and strong cash flows, valuation issues also keep the firm on the sidelines, BMO states.