Palantir Stock: Despite Being Frothy, Remains A Buy
Portfolio Pulse from
Palantir's stock has increased by 700% since its 2022 low, leading to a rating change from strong buy to buy, especially on pullbacks. Despite strong earnings and U.S. commercial growth, its high valuation makes it less of a strong buy. The author reduced their stake by 50% but remains bullish long-term.
November 05, 2024 | 3:45 pm
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Palantir's stock has surged 700% since its 2022 low, leading to a rating change from strong buy to buy, especially on pullbacks. Despite strong earnings and U.S. commercial growth, its high valuation makes it less of a strong buy.
The stock's significant rise and high valuation have led to a downgrade in rating from strong buy to buy, indicating a neutral short-term impact. However, the long-term outlook remains positive due to strong earnings and U.S. commercial growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100