UPDATE: Deutsche Bank Downgrades Palantir Technologies Inc. (PLTR) to Sell
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Deutsche Bank analyst Brad Zelnick downgraded Palantir Technologies Inc. (NYSE: PLTR) from Hold to Sell with a price target of $8.00 (from $11.00).
The analyst comments " We downgrade PLTR shares to Sell from Hold following 2Q results that change our view of the company's Government business and overall risk/reward in the stock. While we've always been more skeptical of Palantir's commercial opportunity, our thesis was rooted in what we saw as a uniquely strong position in Public Sector. Now with the Gov't business further decelerating off of easier compares and with diminished confidence/visibility ahead, we are left with very little to support our thesis."
Shares of Palantir Technologies Inc. closed at $9.82 yesterday.
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