Mizuho Downgrades Palantir Technologies to Underperform, Raises Price Target to $22
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Matthew Broome has downgraded Palantir Technologies (NYSE:PLTR) from Neutral to Underperform, while raising the price target from $21 to $22.
July 16, 2024 | 9:56 am
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Mizuho has downgraded Palantir Technologies from Neutral to Underperform, indicating a negative outlook on the stock. However, the price target has been raised from $21 to $22, suggesting some potential for price appreciation.
The downgrade to Underperform suggests that the analyst expects the stock to underperform relative to the market or its peers. However, the raised price target to $22 indicates that there is still some potential for price appreciation, albeit limited. This mixed signal could create uncertainty among investors, likely leading to short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100