Palantir Technologies and the Revised Stock Price Target of $50
Palantir Technologies and the New Price Target
Palantir Technologies (NYSE: PLTR) continues to make waves in the stock market, with Bank of America raising its price target from $30 to an impressive $50. Mariana Perez, the analyst tracking Palantir since its price was merely $6, draws historical comparisons to highlight the underestimated potential of this tech firm.
Historical Comparisons and Market Potential
Perez references a notorious blunder from 1980 when AT&T miscalculated future cell phone users. They projected a mere 900,000, while the actual count exceeded 100 million. She argues that the market today misjudges Palantir’s capabilities in a similar way.
Impact of S&P 500 Inclusion
- Palantir is set to be included in the S&P 500 on September 23.
- This addition could prompt significant interest from institutional investors.
- The stock closed at $34.60, reflecting a 14.04% gain earlier this month.
Future Outlook
Perez’s bullish stance implies that we could witness Palantir’s stock hitting $50, a level that would change perceptions regarding data analytics. With shares surging 108% since the start of 2024, Palantir is a stock to watch as it continues to challenge skeptics.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.