Palantir initiated with Neutral on valuation at Baird

Baird initiated coverage of Palantir (PLTR) with a Neutral rating and $70 price target The firm says the company’s strong growth potential is offset by the stock’s valuation. Palantir has excelled at putting generative artificial intelligence applications into production, the analyst tells investors in a research note. Baird is positive on the company’s position, but “wary of chasing” the shares given the strong year-to-date performance and valuation.