Palantir Technologies Inc. (PLTR) PT Raised to $50 at BofA Securities

BofA Securities analyst Mariana Perez Mora raised the price target on Palantir Technologies Inc. (NYSE: PLTR) to $50.00 (from $30.00) while maintaining a Buy rating.

The analyst comments "In 1980, AT&T hired a consultancy company to estimate the market size for cell phones by 2000. The study suggested there would only be 900k users. The actual number of mobile subscriptions in 2000 was >100mn. These early estimates also failed to anticipate the world of apps, streaming, smart devices, and ultimately, how this new product would bring forward the first public trillion-dollar company. We view Palantir’s (PLTR) capabilities, technology and path forward facing a similar fundamental misunderstanding. The upcoming S&P 500 inclusion provides a watershed moment for institutional investors to revisit what they “know” about PLTR. We reiterate our Buy rating and raise our PO to $50."

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