Palantir initiated with a Neutral at DA Davidson

DA Davidson initiated coverage of Palantir with a Neutral rating and $8 price target. The company possesses significant intellectual property, but its unique mission and focus may limit its opportunity and earnings visibility, the analyst tells investors in a research note. The firm added that the complex, service-intensive nature of the Palantir product makes it very expensive, thus limiting the company’s addressable market. DA Davidson further notes that government deals also tend to be "more lumpy", limiting visibility.