Bank of America raises Palantir's target price to $75 as U.S. business growth accelerates and "competitive moat" expands
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Bank of America raised the target price for Palantir to $75 and reiterated a "Buy" rating due to accelerated growth in U.S. business and an expanding "competitive moat." Analysts expect the growth rate of government business to be adjusted from 24% to 29% over the next three years, and the growth rate of commercial business to be adjusted from 32% to 34%. Palantir's penetration in both government and commercial sectors is still in the early stages, leaving significant room for future growth. Analysts believe that the importance of software in industrial production is increasing, and Palantir will become a driver and winner
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