Palantir price target raised to $50 from $30 at BofA

BofA raised the firm’s price target on Palantir to $50 from $30 and keeps a Buy rating on the shares. The firm views Palantir’s capabilities, technology and path forward facing a “fundamental misunderstanding” and contends that the upcoming S&P 500 inclusion “provides a watershed moment for institutional investors to revisit” what they “know” about Palantir. The company’s non-conventional sales approach, where the engineers play a key role, has been highly criticized, but the firm contends that the engineer-sales bond is a key factor to the company’s pricing strategy and views this approach as a key differentiator to profits’ robustness, especially compared to other software companies.