Citi raises Palantir price target to $245 after Q2 results

Citi analyst Tyler Radke raised the price target on Palantir (NASDAQ: PLTR) to $245 from $200, while maintaining a Buy rating, according to a research note.

The revised target follows Palantir's second-quarter results, which showed total revenue growth accelerating to 93%. U.S. Commercial revenue, total contract value, and remaining deal value all reached new highs during the quarter.

Radke noted that profitability metrics included a Rule of 40 score of 155% and adjusted free cash flow margins of 63%. The company raised its full-year total revenue guidance by $500 million and increased its U.S. Commercial growth guidance from 120% to 134%.

Citi raised its 2026 revenue estimate by 9 percentage points and increased its five-year compound annual growth rate estimate by 8 percentage points. The $245 price target implies approximately 67 times fiscal year 2028 estimated enterprise value to free cash flow, or roughly 64 times fiscal year 2028 price-to-earnings.

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