Morgan Stanley Downgrades Palantir Technologies Inc. (PLTR) to Underweight; Risk/Reward 'Decidedly Negative'

(Updated - December 2, 2020 6:11 AM EST)

(updating comment)

Morgan Stanley analyst Keith Weiss downgraded Palantir Technologies Inc. (NYSE: PLTR) from Equalweight to Underweight with a price target of $17.00 (from $15.00).

The analyst comments "With PLTR up 155% since listing with very little change in the fundamental story, the risk/reward paradigm shifts decidedly negative for the shares. Trading at ~33x CY22e sales, double the average SaaS stock at 15x, we move to an UW rating with a $17 PT."

For an analyst ratings summary and ratings history on Palantir Technologies Inc. click here. For more ratings news on Palantir Technologies Inc. click here.

Shares of Palantir Technologies Inc. closed at $24.94 yesterday.

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