Jim Cramer Bullish On Palantir's Performance And Stronghold In IT Defense Industry: 'They've Owned That Franchise'
Portfolio Pulse from Benzinga Neuro
Jim Cramer expressed his bullish stance on Palantir Technologies Inc. (NYSE:PLTR), praising its recent performance and strong presence in the IT defense sector. He highlighted the company's good earnings and its dominance in IT defense, following a lucrative contract with the Defense Information Systems Agency (DISA). Additionally, an analyst from Mizuho maintained a Neutral stance on Palantir but raised the price target from $18 to $21, citing prospects in AI expansion after a $178 million deal with the Army. Palantir's stock closed at $22.86, with a 52-week range of $7.28 to $27.50.
April 02, 2024 | 8:13 am
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POSITIVE IMPACT
Jim Cramer's bullish stance and the recent DISA contract highlight Palantir's strong position in the IT defense sector, potentially boosting investor confidence.
Jim Cramer's endorsement, especially following a significant contract with DISA and a raised price target by Mizuho, signals strong confidence in Palantir's market position and future prospects. This could lead to increased investor interest and potentially a short-term uptick in stock price, given the company's recent performance and strategic contracts in the defense sector.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100