Palantir Shares Are Trading Higher Premarket After Wedbush's Dan Ives Ups Target: Here's What To Expect Next
Portfolio Pulse from Benzinga Neuro
Dan Ives of Wedbush Securities has raised the price target for Palantir Technologies Inc. (PLTR) from $30 to $35, citing the company's strong potential in AI applications. Ives highlighted Palantir's AI and data analytics platform as essential for U.S. enterprises, referring to it as the 'Messi of AI thesis.' This bullish adjustment is supported by recent field checks and the belief that Palantir will capture a significant share of the $1 trillion AI Global TAM. The company's stock rose by 1.66% in premarket trading to $26.90. Additionally, Palantir has secured a $178 million contract extension from the U.S. Army for the development of advanced AI/ML technologies.
March 08, 2024 | 12:48 pm
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Palantir's price target has been raised from $30 to $35 by Dan Ives, indicating a strong growth outlook in AI. The company's AI and data analytics platform is gaining recognition among U.S. enterprises. Additionally, a $178 million U.S. Army contract extension underscores its expanding role in AI/ML technologies.
The increase in Palantir's price target by a reputable analyst due to its AI capabilities and the securing of a significant government contract are strong indicators of the company's growth potential. These factors are likely to positively influence investor sentiment and the stock's short-term performance.
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