Palantir Technologies Inc. (NASDAQ:PLTR) is one of the Trending AI Stocks on Wall Street. On July 10, Wedbush reiterated the stock as “Outperform” and raised its price target to $160 from $140. The firm said that the bull thesis is playing out for the stock.
“We are raising our price target on Palantir to $160 from $140 as our recent checks and growing confidence in the company’s AI strategy is key to the bull thesis on Palantir playing out for the next 12 to 18 months.”
Analysts maintain that Palantir is on the “golden path to become the next Oracle” over the coming years. Although valuation is currently expensive, they view the company as a core winner in the trillions of AI spend over the years.
“Palantir remains one of our top names to own in the “IVES AI 30″ as its game-changing AIP strategy is quickly becoming a key foundational platform for enterprises heading down the AI use case path across verticals.”
A man in long sleeves looking at stock market data. Photo by Tima Miroshnichenko on Pexels
The company continues to develop new use cases for customers, which they are waiting in line to pursue, hoping to drive efficiencies through the use of AI.
The firm noted how the Street is underestimating the over $1 billion revenue stream that its Artificial Intelligence Platform, or AIP, and commercial business can evolve into.
“To this point we believe the Trump Administration clearly represents an additional tailwind for PLTR with AI initiatives within the US government including the DoD accelerating as AI remains a strategic focus on the federal front.”
-Ives and his team.
The analysts also highlighted deals made under the Trump administration, as well as the NATO deal, highlighting how the company is in a “sweet spot to benefit from a tidal wave of federal spending on AI across North America and Europe.”
Palantir is well positioned for this “new disciplined spending environment and this will ultimately be a positive growth catalyst as Karp & Co. get a bigger seat at the table globally…including across the Middle East with this AI adoption curve now front and center across the region.”
Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems.
While we acknowledge the risk and potential of PLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PLTR and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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