UPDATE: Stifel Raises PT on Gartner Following NDR Highlights

In a report published Monday, Stifel analyst Jerry Herman reiterated a Buy rating on

, and raised the price target from $67.00 to $76.00. In the report, Stifel noted, “Our Buy thesis is based on the combination of the growing importance of technology, the company's pre-eminent position as the intellectual leader in IT subject matter, a very large global market opportunity, the gradual global economic activity, above-average visibility and predictability of the business model, strong double digit organic growth prospects, a mix shift to faster growing, higher margin research, and excellent cash generation. In short the company has exceptional business model and is experiencing strong positive momentum in its business. The stock is not cheap on a valuation basis relative to the market or its typically referenced peer group, however, we believe sustained,and predictable organic double digit growth will drive share price appreciation over time.” Gartner closed on Friday at $66.40.