What's Going On With Palantir Stock Tuesday?
Portfolio Pulse from Adam Eckert
Palantir Technologies Inc (NYSE:PLTR) shares are trading higher after Argus Research initiated coverage with a Buy rating and a $29 price target. The analyst highlighted Palantir's improved profitability and cash flow, expecting earnings to grow 19% annually over the next five years. Additionally, Cathie Wood's Ark Invest purchased 9,707 shares for the ARK Space Exploration & Innovation ETF, contributing to the stock's rise.
June 18, 2024 | 1:25 pm
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Palantir shares are trading higher after Argus Research initiated coverage with a Buy rating and a $29 price target. The analyst highlighted Palantir's improved profitability and cash flow, expecting earnings to grow 19% annually over the next five years. Additionally, Cathie Wood's Ark Invest purchased 9,707 shares for the ARK Space Exploration & Innovation ETF, contributing to the stock's rise.
The Buy rating and $29 price target from Argus Research, along with the purchase of shares by Cathie Wood's Ark Invest, are strong positive signals for Palantir. The analyst's expectation of 19% annual earnings growth and improved profitability further support a bullish outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100