Jefferies analyst Brent Thill raised the firm’s price target on Palantir (PLTR) to $70 from $60 and keeps an Underperform rating on the shares following the earnings report. The company’s U.S. demand is “booming” and the Q3 results “were strong,” the analyst tells investors in a research note. However, Jefferies views the valuation of Palantir shares as “extreme.” The firm likes the company’s fundamentals but sees an unfavorable risk/reward. It prefers Microsoft (MSFT) and Snowflake (SNOW) for artificial intelligence exposure.
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