Palantir price target raised to $140 from $120 at Wedbush

Wedbush analyst Daniel Ives raised the firm’s price target on Palantir (PLTR) to $140 from $120 and keeps an Outperform rating on the shares. The firm notes Palantir posted its Q1 results featuring robust beats across the board, while raising FY25 guidance yet again as the company continues to capitalize on the AI demand wave with its AIP product moat gaining further traction moving forward. Wedbush notes that the company is gaining traction in Europe with its recent NATO partnership. The firm is raising its price target to reflect greater confidence in the Palantir growth story, while seeing significant traction across both enterprise and federal landscapes with its AIP product moat unmatched in our view. Wedbush views Palantir as a generational tech name that it sees as a trillion-market cap over the next three years with Palantir being a core name in the AI Revolution theme over the coming years.