Palantir price target raised to $182 from $170 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the firm’s price target on Palantir (PLTR) to $182 from $170 and keeps an Overweight rating on the shares. Robust Q2 demand across both government and U.S. commercial were supportive of the intermediate-term bull-case scenario on Palantir, punctuated by the biggest absolute dollar beat ever with top-line growth accelerating for the 8th straight quarter to 48%, the firm notes. While Palantir carries a rich valuation premium and remains a high-risk investment, Piper believes the one-of-a-kind growth plus margin model puts it into a unique category of one that warrants a premium.