Palantir price target raised to $28 from $24 at BofA

BofA analyst Mariana Perez Mora raised the firm’s price target on Palantir to $28 from $24 and keeps a Buy rating on the shares after the company was named prime contractor on the Army’s Tactical Intelligence Targeting Access Node, or TITAN, ground station system contract. This is the first time a software company has been named the prime on a “hardware” production program, which the firm sees as a signal that the Department of Defense is “embracing change” and views the news as ushering in “a new era of procurement.” The firm sees the win “cementing Palantir as the AI Prime in the world of Defense,” the analyst added.