UPDATE: Stifel Nicolaus Initiates Gartner at Buy on Positive Outlook

In a report published Friday, Stifel Nicolaus analyst Jerry Herman initiated coverage on Gartner IT with a Buy rating and $67.00 price target.

In the report, Stifel Nicolaus noted, “We are initiating coverage of Gartner, Inc. with a Buy rating and a 12-month target price of $67. Our positive stance reflects the combination of the growing importance of technology, the company's pre-eminent position as the intellectual leader in IT subject matter, the still relatively untapped global market opportunity (increased penetration seems limited primarily by internal selling capability), the gradual resurrection of global economic activity, above-average visibility and predictability of the business model, and attractive valuation relative to future growth prospects.”

Gartner closed on Thursday at $57.82.