Palantir's AI Euphoria May Fade Due To Lack Of Monetization Strategy: Analyst
Portfolio Pulse from Shanthi Rexaline
Morgan Stanley analyst Keith Weiss has downgraded Palantir Technologies, Inc. (NYSE:PLTR) from Equal-Weight to Underweight, while increasing the price target from $8 to $9. Weiss cited concerns over Palantir's lack of a monetization strategy for its Artificial Intelligence Platform (AIP) and the early stage of development of enterprise Generative AI solutions. He also noted that the company's valuation multiple has expanded by over 180% in the past eight months.
August 31, 2023 | 2:05 pm
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Palantir's stock has been downgraded by Morgan Stanley due to concerns over its AI monetization strategy. The company's valuation multiple has expanded by over 180% in the past eight months.
The downgrade by Morgan Stanley is based on concerns over Palantir's lack of a clear monetization strategy for its AI platform. This, coupled with the company's high valuation multiple, could negatively impact the stock's performance in the short term.
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