Palantir price target raised to $16 from $14 at Mizuho

Mizuho analyst Matthew Broome raised the firm’s price target on Palantir to $16 from $14 and keeps a Neutral rating on the shares. The company reported largely in-line Q2 results with some positive momentum in its U.S. commercial business, the analyst tells investors in a research note. More importantly, however, Palantir is seeing strong inbound interest in its new Artificial Intelligence Platform, which management views as a transformative opportunity, says the firm. It believes the company is well positioned to manage secure AI deployments for its customers, but says patience will be required as Palantir pivots to this new opportunity.