Gartner initiated with a Peer Perform at Wolfe Research

Wolfe Research initiated coverage of Gartner (IT) with a Peer Perform rating and no price target With the shares down 50% year-to-date on budget pressures on the threat of artificial intelligence, Gartner has potential to re-rate higher in a normalized environment given its “differentiated” offerings and acceleration into different verticals, the analyst tells investors in a research note. However, Wolfe believes the stock will remain range-bound over the near-term given concerns on client budgets and AI disintermediation.