Palantir price target raised to $18 from $13 at BofA

BofA analyst Mariana Perez Mora raised the firm’s price target on Palantir to $18 from $13 and keeps a Buy rating on the shares. Generative AI has quickly changed from a unique proprietary software from a given company to a commodity with open-sourced solutions becoming a viable option, says BofA, which thinks Palantir is positioned to be “one of the dominate providers in generative AI.” From its experience working with the government and highly regulated industries, Palantir has already developed and implemented the architectural design that supports generative AI in “a compliant and private world,” argues the firm, which adds that its conversations with Palantir customers at AIPCon suggest that the company is “five years ahead of the closest company.”