Shares of Palantir (NYSE:PLTR) gained today, which may be attributed to analyst praise. Indeed, Mariana Perez of Bank of America reiterated her Buy rating on the stock while assigning a price target of $18 per share. For reference, her previous price target was $13 per share.
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Bank of America has expressed renewed confidence in Palantir’s ability to seize upon the AI opportunity due to its “unique position.” They believe Palantir is ahead of the game in the generative AI space, being as much as five years ahead of its closest competitor, as revealed at AIPCon. However, they also cautioned against potential AI bubble fears due to rapid growth in AI-related stock values, noting that the technology is still maturing.
Overall, Wall Street analysts have a consensus price target of $10.50 on PLTR stock, implying almost 32% downside potential, as indicated by the graphic above.