Larry Ramer
2 min read
In This Article:
Bank of America on Monday raised its price target on Palantir Technologies Inc. (PLTR) to $150 and maintained a Buy rating on the shares.
The bank now has one of the highest targets on PLTR stock among Wall Street firms.
Why Bank of America Is Very Bullish on Palantir Technologies Inc. (PLTR)
The tech firm is distinguishing itself from its peers by enabling its clients to launch software that utilizes AI and hits specified targets, according to the bank.
Further, PLTR's financial results show that the rate at which the company launches new products and obtains customers is accelerating, Bank of America stated.
Finally, a recently issued executive order, entitled "Modernizing Defense Acquisitions and Spurring Innovation," could boost Palantir Technologies Inc. (PLTR) by helping firms that already have many contracts with the Pentagon (including PLTR) obtain more such deals.
More Information About Palantir Technologies Inc. (PLTR)
Analysts on average PLTR's earnings per share to rise to 58 cents this year from 41 cents in 2024. The mean estimate for 2026 calls for its EPS to rise to 73 cents.
In the last month, the shares have climbed 40%, while they have risen 3.5% in the last three months.
While we acknowledge the potential of PLTR, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires
Disclosure: None. This article is originally published at Insider Monkey.
