Piper starts Palantir with Overweight on ‘one-of-a-kind’ growth

Piper Sandler initiated coverage of Palantir (PLTR) with an Overweight rating and $170 price target The shares are richly valued but the company offers “one-of-a-kind” growth and margin potential, the analyst tells investors in a research note. The firm believes Palantir can grow into a $24B revenue run-rate by 2032 due to market share gains in two one trillion dollar total addressable markets – government and U.S. commercial. The firm tells investors to be patient and buy the shares on weakness. It sees Palantir as a winner in the artificial intelligence revolution.