DA Davidson raised the firm’s price target on Palantir to $15 from $8.50 and keeps a Neutral rating on the shares. The company reported another set of “favorable” results in Q2, with third consecutive quarter of GAAP profitability that is expected to be sustained moving forward, the analyst tells investors in a research note. Palantir focused much of the earnings call on their ability to deliver in an environment with increasing demand for its new AIP product, which they expect to drive additional revenues in subsequent quarters, the firm adds.
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