Palantir upgraded to Market Perform from Underperform at William Blair

William Blair upgraded Palantir (PLTR) to Market Perform from Underperform without a price target The firm cites valuation for the upgrade following the 33% “DOGE-driven selloff” in the shares from $125 to $84 over the past three weeks. While Palantir’s valuation is “still frothy” with potential downside risk of over 40% on government contract delays, “there have been positive developments,” the analyst tells investors in a research note. Blair says that the market “reverts to risk-on mode,” the stock price may return to its prior peak. However, it expects the shares to be range-bound over the next year with continued elevated volatility given the puts and takes. A government shutdown on March 15 may cause further downside pressure, the firm adds.