Mizuho analyst Matt Broome boosted his price target on Palantir Technologies Inc. shares PLTR to $14 from $8 Monday, though he kept a neutral rating and noted a doubling of the stock since Palantir’s last earnings report, when management “announced its intention to aggressively pursue the AI opportunity, within the context of strong inbound demand from its existing customers.” Broome sees Palantir as “likely well-placed to manage secure AI deployments for its customers,” though he said it’s “also too early to assess the implications for its model.” His revenue forecast for the latest quarter is slightly above the consensus view, while his earnings expectations are in line with it, while Broome flagged that conducting channel checks on the state of Palantir’s business is “particularly challenging since the co. typically engages directly with its relatively small commercial customer base, while military contracts are naturally shrouded in secrecy.”
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
