Palantir (PLTR) Price Target Raised to $116 Despite ‘Underperform’ Rating

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the 15 AI Stocks Making Waves on Wall StreetOn June 11, Mizuho raised the firm’s price target on the stock to $116 from $94 and kept an “Underperform” rating on the shares.

The firm’s price target adjustment follows remarks made by company executives at the bank’s technology conference this week. It talked about the company’s robust recent performance and significant upward revisions, as well as a rise in comparable multiples.

The new price target is based on projected enterprise value to sales multiples for 2025 and 2026, which are an estimated 80-times and 65-times, respectively.

Palantir (PLTR) Price Target Raised to $116 Despite ‘Underperform’ Rating

“We are raising our price target to $116 (from $94) on Palantir’s strong recent execution and significant upward revisions, along with recent appreciation in competitor multiples. Our price target reflects 2025E-26E EV/ Sales multiples of roughly 80x and 65x. This also equates to a large 6x premium to our enterprise software peer group median for next year, reflective of Palantir’s strong strategic positioning with large customers, and potential for further accelerated growth in future years.”

Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems.

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