Shares of Palantir Technologies (PLTR, Financial) rallied 1.5% to $65 on Monday after Wedbush Securities raised its price target from $57 to $75, reiterating an “outperform” recommendation. This move comes as analysts grow confident in the company's expanding presence in the emerging field of artificial intelligence and its success in securing government contracts.
Despite recent gains, analysts remain divided. Firms like Mizuho and Royal Bank of Canada have adopted more cautious tones, even as others, such as Bank of America, have raised their price targets to $75. The stock currently holds a “Hold” rating with an average price target of $35.64.
Other achievements underscore the company's momentum, including a $178 million U.S. Army contract for the AI-driven TITAN project signed in October. This aligns with growing market interest in AI-centric defense and enterprise solutions, reinforcing Palantir's robust market position.
For investors, balancing the demand for AI products with valuation concerns keeps Palantir in sharp focus.
