Palantir (NASDAQ: PLTR) has been on a remarkable streak, soaring nearly 140% since January, fueled by the broader market enthusiasm for artificial intelligence (AI).
Accordingly, Bank of America (BofA) Securities analyst Mariana Pérez Mora raised her PLTR stock price target from $180 to $215 while maintaining a “Buy” rating on Tuesday, September 23.
Following a discussion with Akshay Krishnaswamy, the company’s Chief Architect, Pérez Mora reportedly cited stronger growth across Palantir’s applications as one of the primary reasons for the upgrade.
The revision marks the bank’s second upgrade in less than two months, as the same analyst had already raised the price from $150 to $180 on August 5 this year, just as Palantir’s quarterly revenue surpassed $1 billion for the first time.
Following the upgrade, the PLTR shares were up 1.41% in pre-market on Tuesday, trading at $179.36 at the time of writing.
Palantir stock gets an upgrade
BofA further highlighted momentum in Palantir’s Maven Smart System, which was recently chosen by NATO to improve intelligence, target recognition, and decision-making for military operations.
In addition, the note mentioned previous optimism in the firm’s Ontology architecture and Forward Deployed Engineers (FDEs) market strategy as “the secret sauce.”
The software giant is also enjoying additional tailwinds generated by the recent announcement of a new strategic partnership with the UK Ministry of Defence during President Trump’s recent state visit.
The five-year deal, valued at up to £750 million, marks Palantir’s first billion-dollar contract outside the U.S.
Accordingly, the bank now forecasts government sales exceeding $8 billion by 2030, raising the 2025–2030 CAGR estimate to 30% from 27% previously.
Featured image via Shutterstock
Source: https://finbold.com/analyst-updates-palantir-stock-price-target/
