Here's What Needs to Happen Before Credit Suisse Turns More Bullish on Palantir (PLTR) Shares
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Credit Suisse’s top analyst Phil Winslow started the research coverage on Palantir (NASDAQ: PLTR) with a Neutral rating and a $25.00 per share price target that implies less than 10% in upside potential.
“We believe Palantir offers a differentiated converged data fabric—with key points of distinction stemming from (1) the security inherent in the platform, (2) its graph analytics capabilities that provide a complete metadata layer for all data sources, (3) a best-in-class UI for both technical and business users, and (4) write-back mechanisms, whereby insights are fed back into the ontology to continuously improve data and the business decision making process,” Winslow wrote in his note to clients.
The analyst believes Palantir could unlock “significant value” through its Foundry business within the commercial business with large enterprises. In order for Palantir shares to get more love from investors and for him to get more positive, Winslow says we need more evidence on the “evolution of Palantir’s go-to-market model to acquire new commercial clients.”
On the other hand, the biggest risk for Palantir stock is the dependence on large deals with only a few customers in this category.
Palantir shares are down 1.2% in pre-open Wednesday after closing at $23.13 yesterday.
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