RBC Capital analyst Rishi Jaluria notes that Palantir (PLTR) shares have fallen 14% over the past two trading days, which the firm attributes to the resignation of the Chief Accounting Officer that was communicated in the 10-K, reports on planned defense budget cuts and the adoption of a new trading plan by the CEO that allows for the sale of up to 10M shares through September 12, 2025. The firm, which sees “further downside from here,” maintains an Underperform rating and $40 price target on Palantir.
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