Palantir price target raised to $125 from $90 at BofA

BofA raised the firm’s price target on Palantir (PLTR) to $125 from $90 and keeps a Buy rating on the shares following last night’s Q4 beat. The firm is moving to a longer term valuation methodology to reflect the company’s “sustained high-growth and profitability profile.” With the artificial intelligence market “becoming more crowded with more commoditized solutions,” Palantir’s value proposition “is only becoming more pronounced,” the analyst tells investors in a research note. BofA expects further market value to be awarded to the “AI value-adders” versus commodity distributors and stands “firmly” that Palantir will remain a value adder. The company “leap-frogged over” 2024 expectations and the message was clear – “2024 was only a dress rehearsal,” contends BofA.