Palantir price target lowered to $125 from $141 at Loop Capital

Loop Capital analyst Mark Schappel lowered the firm’s price target on Palantir (PLTR) to $125 from $141 and keeps a Buy rating on the shares. The firm came away from a meeting with management with increasing conviction in its Buy rating and core investment thesis. Palantir is an early software leader in enterprise artificial intelligence, which is at a “tipping point” as small-scale pilot programs move into production and as AI use cases “grow exponentially across all industries,” the analyst tells investors in a research note. Loop says the stock has been subject to heightened investor concerns from proposed federal spending cuts and Palantir’s “premium valuation in the wake of the market meltdown.” The firm cites the recent multiple compression in enterprise software for the target cut.