Palantir price target raised to $116 from $94 at Mizuho

Mizuho raised the firm’s price target on Palantir (PLTR) to $116 from $94 and keeps an Underperform rating on the shares. The firm cites the company’s “strong recent execution and significant upward revisions,” along with recent appreciation in comp multiples, for the target increase. The new target reflects estimated 2025 and 2026 enterprise value to sales multiples of roughly 80-times and 65-times, the analyst tells investors in a research note. Mizuho says this also equates to a “large” 6-times premium to its enterprise software peer group median for next year, reflective of Palantir’s “strong strategic positioning with large customers, and potential for further accelerated growth in future years.”