Wells Fargo & Company Issues Pessimistic Forecast for Gartner (NYSE:IT) Stock Price

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Wells Fargo & Company has lowered its price target for Gartner (NYSE:IT) from $150 to $140, assigning an “underweight” rating and suggesting a 10.56% downside. This pessimistic forecast follows similar target trims from other brokers and comes amidst a wave of securities-class-action filings against Gartner regarding alleged misstatements about consulting outlook and contract disclosures. Despite a consensus “Hold” rating among analysts with a higher price target, the legal issues and recent stock performance indicate a challenging period for the company.

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