Palantir Stock Has AI Upside, but the Valuation Is ‘Excessive,’ Analyst Says

Published on April 27, 2024

Monness, Crespi, Hardt analyst Brian White upgraded shares of software firn Palantir to Neutral from Sell without a price target.

Palantir Technologies stock was rising Friday after a former Bear upgraded shares of the software firm on confidence in growth thanks to artificial intelligence.

Monness, Crespi, Hardt analyst Brian White upgraded shares of Palantir to Neutral from Sell without a price target. White’s upgrade comes after shares have risen 32% this year and 192% over the last 12 months. Investors have been optimistic on the company’s AI initiatives and recently announced military contracts.

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