Analyst Comments

Today’s featured analyst comment is by Goldman Sachs who upgraded Gartner, Inc. (IT) to Buy with an $85 price target.  IT has been on a strong run up over 38% the trailing 12 months and Goldman believes there is more in the tank.  Looking at the chart there is some work needed but we think they may be right.

If IT can continue to digest under the recent highs while the MACD continues to recycle then this could lay the ground work for another leg higher.  What we are watching specifically on the stock is the MACD and the 50 day SMA which should act as initial support on any drop.

If one wanted to get long here so to not miss the opportunity then we would consider first not initiating a full position and second using the 1/13/14 lows of $68.28 as a stop since and drop below that level could look to target the 50 day SMA and that would be where we would then look to re-enter.  Otherwise we will be watching for IT to consolidate above the 1/13/14 lows while the 50 day SMA rises to meet price and the MACD recycles toward zero.

Gartner, Inc. (IT)

The rest of the Analyst ratings for 1/16/14:

Upgrades 1/16/14

Downgrades 1/16/14

Initiations 1/16/14

Price Target Changes 1/16/14