Gartner price target lowered to $140 from $150 at Wells Fargo

Wells Fargo lowered the firm’s price target on Gartner (IT) to $140 from $150 and keeps an Underweight rating on the shares. The firm is concerned that the more volatile macro backdrop stemming from the Iran conflict will weigh on customer confidence and thus CV growth in Q1. That said, Wells thinks a slight guidance raise is still possible given initial conservatism.