Palantir price target raised to $94 from $80 at Mizuho

Mizuho raised the firm’s price target on Palantir (PLTR) to $94 from $80 and keeps an Underperform rating on the shares. The company reported a “very good quarter,” as revenue grew 39% year-over-year, ahead of the Street’s 36% forecast, driven by U.S. commercial and U.S. government, the analyst tells investors in a research note. The firm says Palantir raised its fiscal 2025 guidance by much more than the Q1 beat. Mizuho remains “impressed” by Palantir’s recent execution, but says “valuation cannot and should not be irrelevant.” The firm finds it “very difficult” to justify the stock’s “very high multiple” that it believes already discounts material growth acceleration and upside versus consensus expectations.