What happened: Palantir (PLTR) stock jumped 5% on Thursday.
What's behind the move: The stock moved higher after D.A. Davidson ****** yst Gil Luria upgraded it to a Buy rating from Neutral and raised his price target to $175 from $165.
The stock extended gains from the previous session, when it jumped 7% after the company unveiled a new AI partnership with Nvidia (NVDA) focused on government and other security-sensitive customers.
"Palantir has grown into its valuation as profits have soared, and the multiple has come in, providing investors with a gift just in time for the United States of America's 250th birthday," Luria wrote on Thursday morning.
"We believe Palantir's valuation is the most attractive it has been in a while, especially in relation to other high growth software companies," he added.
What's behind the move: The stock moved higher after D.A. Davidson ****** yst Gil Luria upgraded it to a Buy rating from Neutral and raised his price target to $175 from $165.
The stock extended gains from the previous session, when it jumped 7% after the company unveiled a new AI partnership with Nvidia (NVDA) focused on government and other security-sensitive customers.
"Palantir has grown into its valuation as profits have soared, and the multiple has come in, providing investors with a gift just in time for the United States of America's 250th birthday," Luria wrote on Thursday morning.
"We believe Palantir's valuation is the most attractive it has been in a while, especially in relation to other high growth software companies," he added.
4 months ago
