Palantir price target raised to $150 from $125 at BofA

BofA raised the firm’s price target on Palantir (PLTR) to $150 from $125 and keeps a Buy rating on the shares. Companies continue to announce AI initiatives, product developments, and integrations, but “underneath the marketing and fanfare,” the AI tools are “often ChatGPT-wrappers,” the analyst tells investors. Conversely, Palantir’s value is creating “outcome-focused bespoke AI-enabled products, at scale,” argues the analyst, who adds that the speed and scale at which Palantir can deploy products and convert customers is growing. The firm views Defense and Commercial markets as both in the “infancy of unlocking real-value via AI,” the analyst added.