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Investing.com - UBS maintained its Neutral rating and $165.00 price target on Palantir Technologies Inc. (NASDAQ:PLTR) following recent research into the company’s demand trends. According to InvestingPro data, the stock has shown remarkable momentum with a 106.4% gain year-to-date, though current metrics suggest the stock is trading above its Fair Value.
UBS analyst Karl Keirstead based the assessment on conversations with three sources, including one of Palantir’s largest customers and two Palantir services partners, conducted over the past few weeks.
The research firm also reported meetings with Palantir’s CFO and the CFO of privately-held Anduril to gain additional insights into both companies and broader defense spending trends.
UBS expressed a positive view on Palantir’s fundamentals, stating it "didn’t pick up any evidence of emerging pressure in the commercial or government segments."
The firm remains "very constructive" on Palantir’s fundamentals across both its commercial and government business divisions, according to the research note.
In other recent news, Palantir Technologies hosted its eighth AIPCon event, highlighting presentations from over 70 U.S. commercial customers. This event showcased applications of Palantir’s Foundry and Artificial Intelligence Platform across various sectors, including nuclear power development and healthcare. Additionally, Palantir announced an expanded partnership with Japan’s SOMPO Holdings, extending their collaboration to enhance insurance claims processes and support senior citizen care. William Blair reiterated its Market Perform rating on Palantir, noting the company’s continued commercial momentum following the AIPCon 8 event. In another development, Palantir partnered with Lumen Technologies to integrate its platforms across Lumen’s operations, aiming to streamline workflows and accelerate decision-making. Meanwhile, Citron Research expressed caution about Palantir’s valuation, echoing sentiments from OpenAI’s CEO regarding the AI market’s potential bubble. Despite these concerns, Palantir continues to advance its strategic partnerships and customer engagement efforts.
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