BofA Raises Palantir Price Target to $215

BofA Securities analyst Mariana Perez Mora raised the price target on Palantir Technologies Inc.

(NASDAQ: PLTR) to $215 (from $180) while maintaining a Buy rating.

“Post AIPCon 8 (see our note) we highlighted how the Ontology architecture and the FDEs go-to-market strategy continued to be Palantir’s secret sauce.

Last week, we spent time with Akshay Krishnaswamy, Palantir’s Chief Architect, discussing the role of the FDEs and how the company is already leveraging on Agentic AI capabilities to extend this idiosyncratic skillset to more use cases.

On the government front, Palantir received its first billion-dollar award outside of the US. The award from UK’s MOD builds on Palantir’s momentum as the global digital battle-management system.

We reiterate our Buy rating and raise our PO to $215 (from $180) to reflect stronger growth across applications (estimate changes on page 4) on a 15x EV/EBITDA on 2035E (unchanged).

As part of President Trump’s state visit to the UK, Palantir announced a Strategic partnership with UK’s MOD.

The 5-year long, up-to £750mn award marks Palantir’s first billion-dollar (US$) deal outside the US and builds on Palantir’s existing UK exposure (NHS & MOD) and growing international demand among US allies.

Palantir’s Maven Smart System continues to grow (see our note) in the US – 8x since early 2024 – and was selected in April by NATO (see our note) to augment intelligence, target recognition, battlespace awareness, and decision-making capabilities for warfighters.

We expect other countries to increasingly consider Maven as their global digital battle-management system, as it provides both interoperability with the US and allies as well as governance on their own data.

We now expect Government sales to exceed $8bn by 2030 (2025-30E CAGR up to 30% from 27%).”

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