From Financial Modeling Prep: 2024-11-25 12:03:00

BofA Securities analysts raised Palantir Technologies’ price target to $75 from $55, maintaining a Buy rating. The upgrade reflects expectations of accelerated growth in the U.S. and a stronger competitive position.

Palantir’s early-stage penetration in government and commercial sectors, with expanding use cases and enhanced interoperability, drives further adoption and upselling opportunities. The company’s generative AI capabilities through its Ontology position it as a key player in enabling businesses to enhance margins through software and AI.

Software’s increasing importance in industrial production, accounting for 17% of U.S. nonresidential private fixed investments in 2023, supports Palantir’s long-term growth prospects. Organizations prioritize automation, real-time data analysis, and process control, aligning with Palantir’s offerings.

BofA raised Palantir’s three-year commercial growth forecast to 34% from 32%, citing the company’s expanding commercial customer base, partnerships, and distribution channels. The positive outlook reflects Palantir’s strong position in the market and growth potential.



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