Palantir: share price boosted by comments from Wedbush
(CercleFinance.com) - Palantir shares escaped Wall Street's gloom on Thursday, thanks to favorable comments from analysts at Wedbush Securities, who are now forecasting a share price of $50 by 2025 in a bull case scenario.
The US broker - who calls the predictive analytics specialist the "Lionel Messi of AI" - believes that the Denver-based group is well placed to take advantage of a market that it estimates to be worth about a trillion dollars.
Each platform in Palantir's portfolio addresses specific needs and capabilities, all of which aim to offer AI and machine learning tools dedicated to data analysis, collaborative tasks and operational optimization within different sectors, the broker explains.
Wedbush - which maintains its 'outperform' rating and $35 price target on the stock - believes that these growth drivers are still poorly understood by the market, even though the stock has climbed 64% this year, compared with a 15% gain for the software sector.
Palantir shares closed up 1.5%, while the Nasdaq was closed down 0.7%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The US broker - who calls the predictive analytics specialist the "Lionel Messi of AI" - believes that the Denver-based group is well placed to take advantage of a market that it estimates to be worth about a trillion dollars.
Each platform in Palantir's portfolio addresses specific needs and capabilities, all of which aim to offer AI and machine learning tools dedicated to data analysis, collaborative tasks and operational optimization within different sectors, the broker explains.
Wedbush - which maintains its 'outperform' rating and $35 price target on the stock - believes that these growth drivers are still poorly understood by the market, even though the stock has climbed 64% this year, compared with a 15% gain for the software sector.
Palantir shares closed up 1.5%, while the Nasdaq was closed down 0.7%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.