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Palantir Stock Soars -- Bank of America Sees Massive Upside
Yahoo Finance • • business
Key Points:
- Palantir Technologies' shares surged about 9% following strong second-quarter results, driven by short covering and broader tech sector strength.
- Bank of America maintained a Buy rating on Palantir and raised its price target to $255, suggesting a potential 50% upside.
- The bank highlighted Palantir's competitive edge stemming from its AI strategy, deep customer partnerships, and an operating model linking pricing to measurable business outcomes.
- Palantir's growing role in sovereign AI, focusing on secure deployment of artificial intelligence, was emphasized as a key growth area.
- Increased momentum in Palantir's U.S. commercial business, including larger contracts and higher spending by existing clients, led to raised long-term forecasts by Bank of America.
