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Palantir target raised by Wedbush on inflection point momentum

Palantir target raised by Wedbush on inflection point momentum © Reuters. Palantir (PLTR) target raised by Wedbush on inflection point momentum

Wedbush raised its price target for Palantir (NYSE:) to $35 from $30 in a note Friday, maintaining an Outperform rating on the stock.

Analysts stated the “Messi of AI starting to gain inflection point momentum with AIP.”

The firm said its recent checks on Palantir in the field have been incrementally more bullish as they believe the AIP foundation is becoming viewed by many US enterprises as the “launching pad of AI use cases.”

“Customers across industries are continuing to find use cases with AIP creating major cross-sell opportunities in the pipeline,” added the firm. “With a strong product portfolio coupled with AI, we expect PLTR to garner a meaningful share of what we believe to be a $1 trillion AI Global TAM as enterprise and government ecosystems rush to implement useful platforms for automating complex workflows.”

Furthermore, analysts believe that as the AI revolution takes hold, PLTR “sits in an enviable position” to monetize customers in the enterprise and government segments.

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