Jefferies raised the firm’s price target on Palantir to $28 from $24 and keeps a Hold rating on the shares ahead of the Q2 report. The firm says Palantir is the most expensive name in its coverage, with the shares trading at 19-times estimated 2025 revenue. Jefferies finds it difficult for the stock to work at that multiple. However, Palantir has had back-to-back quarters of solid execution, and the company offers a “rare blended” artificial intelligence apps/infrastructure asset with neat-term revenue momentum, the analyst tells investors in a research note. The firm adds that Palantir also has a unique ownership structure that could cause the stock to continue trading on AI enthusiasm versus fundamentals.
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