UBS Reiterates Buy on Palantir, $200 Price Target

UBS analyst Karl Keirstead reiterated a Buy rating and $200.00 price target on Palantir Technologies (NASDAQ: PLTR).

“SUMMARY: Over the last two weeks we’ve both hosted a group of investors at Palantir’s NYC office (with CFO Dave Glazer and Chief Architect Akshay Krishnaswamy) and attended Palantir’s latest AIPCon conference in SF where we spoke with customers and partners.

While the stock has lagged in part due to investor concerns about competition (including from the AI research labs), we remain Buy-rated.

Meeting With Palantir. Three things stood out: 1.

The dominant investor question was about Palantir’s moat in light of “rivals” (OpenAI, Anthropic, Databricks, others) building teams of FDEs and talking about data semantic or business context layers (on the surface, sounding like Palantir’s ontology layer).

Palantir highlighted the complexity and depth of its operating system (going well beyond deploying LLMs and ingesting data) and its focus on driving operational outcomes and decisions.

Palantir argued that the LLMs are unlikely to have material success diversifying into the data layer.”

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