Palantir (PLTR) Wins GBP 75M UK Ministry of Defence Contract

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Go back to Palantir (PLTR) Wins GBP 75M UK Ministry of Defence Contract

BofA defends Palantir (PLTR), says stock selloff looks overdone and sees over 100% upside

December 22, 2022 8:26 AM EST

Bank of America analyst Mariana Perez Mora reiterated a Buy rating on Palantir (NYSE: PLTR) stock following the latest selloff. Shares hit a fresh record low yesterday at $6.04 before bouncing to close just over 3% higher on the day.

Still, Palantir stock price is down about 18% since December 13. Perez Mora blames the selloff on 3 factors:

Software infrastructure spending heading into a recession; News articles criticizing the companys unsuccessful SPAC-investment strategy; andSell-side consensus downgrades.

In our view,... More