Wedbush Raises Palantir Price Target to $160

Wedbush analyst Dan Ives raised the price target on Palantir Technologies Inc.

(NASDAQ: PLTR) to $160 (from $140) while maintaining an Outperform rating.

“We are raising our price target on Palantir to $160 from $140 as our recent checks and growing confidence in the company’s AI strategy is key to the bull thesis on Palantir playing out for the next 12 to 18 months.

We believe Palantir has a “golden path to become the next Oracle” over the coming years and while the valuation is expensive today we see the Messi of AI as a core winner in the trillions of AI spend over the next few years.

Palantir remains one of our top names to own in the “IVES AI 30” as its game-changing AIP strategy is quickly becoming a key foundational platform for enterprises heading down the AI use case path across verticals.

New and existing customers across the commercial and federal landscapes are waiting in line to sign up for multiple aspects of the PLTR tech stack as the company introduces new valuable use cases to customers with more organizations seeking to drive efficiencies on the back of AI with Palantir leading the charge.

We believe the Street is underestimating the $1 billion+ revenue stream that PLTR’s AIP US commercial business can evolve into over the next few years and the technology competitive moat that Karp & Co. have built.

We maintain our OUTPERFORM.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.