Palantir price target raised to $21 from $18 at Mizuho

Mizuho raised the firm’s price target on Palantir to $21 from $18 and keeps a Neutral rating on the shares after the company was awarded a $178M contract extension for the Titan program. This represents a big extension from its prior June 2022 award, the analyst tells investors in a research note. The firm is encouraged by Palantir’s recently improved execution, and believes the company holds a good opportunity to monetize artificial intelligence going forward. However, it believes further multiple expansion may be challenging.