Bank of America expects the software stock to benefit from rising demand for secure solutions as artificial intelligence disrupts the world. Analyst Mariana Pérez-Mora echoed her buy rating and $18 price target for Palantir, calling the company a “key player” even after the recent pullback. Palantir is “uniquely positioned” as an enabler of AI adoption across commercial and government sectors, she said. PLTR 1 Million Mountain Palantir said of its share price last month, “PLTR delivers genAI solutions that do not rely on preferred LLMs (Large Scale Language Models), adhere to stringent security requirements, and have proven use cases across sectors. We believe our capabilities are underappreciated in the industry.” market,” she wrote in a note to customers on Monday. Palantir is benefiting from all the buzz around AI this year. But after a strong start to the year, the rally hit a wall in August, when the stock fell about 23%. The stock is up nearly 138% year-to-date. Based on Bank of America’s price target, Perez Mora sees further upside, with her target of $18 suggesting the stock could rise another 23% from Monday’s close. suggesting. A key to Palantir’s growth story is its recently released artificial intelligence platform, which is driving the growing need for a secure and reliable data infrastructure, said Perez Mora. She expects increased demand from both new and existing customers. “LLM broadens the end-user base and use cases for her PLTR product,” she said. “As we refocus our efforts on AIP, we expect to see meaningful growth.” It is key to the company’s unique position in this sector, he said. Other potential triggers for Palantir include a deal with the UK’s National Health Service and possible inclusion in the S&P 500. A broader index entry could help lure more institutional investors to the stock and reduce volatility, she said. . Shares rose more than 5% on Tuesday. — CNBC’s Michael Bloom contributed to the report
