Gartner price target lowered to $346 from $352 at BMO Capital

BMO Capital analyst Jeffrey Silber lowered the firm’s price target on Gartner to $346 from $352 and keeps a Market Perform rating on the shares. The company’s Conferences segment outperformed, but its Research segment outlook was weaker and the stock fell on decelerating top-line trends, the analyst tells investors in a research note. BMO remains positive on Gartner’s large and increasing addressable market along with its solid growth and strong cash flow, but notes that valuation issues are keeping the firm on the sidelines.