Palantir: share price advances, Wedbush increasingly confident
In a research note, the American broker says it is increasingly optimistic about 'AIP', the American group's AI platform, and the favorable reception it is receiving from customers, a success illustrated in its view by the enthusiasm that characterized the AIPCon conference held this week.
In this context, its price target has been raised from $30 to $35, with an opinion maintained at 'outperform'.
Wedbush - which considers Palantir to be the 'Lionel Messi of AI' - praises the company's strong portfolio, which it expects to carve out a good share of an AI market it estimates to be worth some $1,000 billion.
According to the broker, Palantir's solutions should help companies and governments alike to implement efficient platforms to automate their most complex workloads.
This week, the Denver-based company won a $178 million contract from the US Army as part of the 'Titan' project, designed to automate target detection and geolocation.
At around 11:00 a.m., the stock was up 1.2%, after having gained up to 3% at the start of the session, compared with a 0.4% gain for the S&P 500. Since January 1, the share price has surged by over 55%.
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