AI
| Followers | 0 |
| Posts | 148553 |
| Boards Moderated | 7 |
| Alias Born | 03/10/2004 |
Tuesday, June 20, 2023 10:22:45 AM
Raymond James downgrades Palantir (PLTR) after a massive rally
By: Investing.com | June 20, 2023
Raymond James analysts downgraded Palantir Technologies Inc (NYSE:PLTR) to Outperform from Strong Buy after shares more than doubled in value since early May.
The rally was fueled by the launch of Palantir’s AI platform (AIP) with the current valuation reflecting “a material element of our near term bullishness,” they said in a client note.
“The recent run in shares coupled with a premium valuation make finding a catalyst more challenging in the near term while our LT enthusiasm for AI and Palantir‘s positioning support our Outperform rating,” they added.
The new price target is $18 per share, suggesting a nearly 10% upside potential from current levels.
On the other hand, William Blair analysts see a strong potential for a move lower in Palantir shares following the recent rally. The analysts believe the downside risk “has significantly increased.”
“Investors may grow frustrated if Palantir’s revenue growth remains in the teens after the recent run-up. Palantir’s 80- times free cash flow multiple implies that Palantir will be able to reattain its 41% growth rate from 2021. We expect long-term growth in the midteens. When Palantir’s valuation reverts to the same parameters used to value software peers, there could be greater than 50% downside,” they said.
PLTR shares are up over 150% year-to-date.
Read Full Story »»»
DiscoverGold
By: Investing.com | June 20, 2023
Raymond James analysts downgraded Palantir Technologies Inc (NYSE:PLTR) to Outperform from Strong Buy after shares more than doubled in value since early May.
The rally was fueled by the launch of Palantir’s AI platform (AIP) with the current valuation reflecting “a material element of our near term bullishness,” they said in a client note.
“The recent run in shares coupled with a premium valuation make finding a catalyst more challenging in the near term while our LT enthusiasm for AI and Palantir‘s positioning support our Outperform rating,” they added.
The new price target is $18 per share, suggesting a nearly 10% upside potential from current levels.
On the other hand, William Blair analysts see a strong potential for a move lower in Palantir shares following the recent rally. The analysts believe the downside risk “has significantly increased.”
“Investors may grow frustrated if Palantir’s revenue growth remains in the teens after the recent run-up. Palantir’s 80- times free cash flow multiple implies that Palantir will be able to reattain its 41% growth rate from 2021. We expect long-term growth in the midteens. When Palantir’s valuation reverts to the same parameters used to value software peers, there could be greater than 50% downside,” they said.
PLTR shares are up over 150% year-to-date.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
