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Palantir Surges 15% After Q2 Results Beat Estimates; Full-Year Guidance Raised on Strong AI Demand
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HSBC raised PLTR's target price to $205
When Wall Street starts chasing prices, I'm more concerned about how far this growth curve can go. When HSBC upgraded $Palantir Tech(PLTR.US) from "Hold" to "Buy" and raised the target price from $197 to $205, it seemed like just a minor adjustment on the surface. But what's really worth dissecting is the growth structure behind its core. The performance of the U.S. commercial segment is the reason for this upgrade. In this model, contract backlog determines future revenue visibility. However, there's also a point worth noting in the report. HSBC mentioned...
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Bank of America's long-time PLTR analyst Mariana Perez Mora hosted an investor conference in South Korea last week, with attendees including Palantir CFO Dave Glazer, deployment strategists Hind Kraytem and Austin Lee, and investor relations Cary Li.
The team expressed confidence after the meeting, as PLTR's growth momentum continues to strengthen with the increasing adoption of enterprise-level AI.
Thanks to the increase in backlog orders and shorter contract durations, the U.S. commercial business continues to show the strongest growth momentum. Palantir recently secured a two-year, $448 million contract with the U.S. Navy for ShipOS; Mora noted that this further aligns the company's development with the Trump administration's priorities for "reindustrialization in the U.S."
The team believes Palantir has opportunities for margin expansion as operating leverage grows with the increasing use cases across businesses.
Mora wrote: "We believe PLTR remains unmatched in its ability to rapidly deliver production-grade solutions and empower human-machine collaborative teams to make the most informed decisions."
Mora reiterated a "Buy" rating and a $255 target price for PLTR stock, based on an estimated 15x enterprise multiple for 2035. She adopted this long-term valuation approach to reflect the company's sustained high growth and profitability.
Mora believes this valuation fairly captures the company's favorable position in national security and U.S. government sectors, while also reflecting its leadership role in the AI platform space, strong balance sheet, and robust profitability.
$Palantir Tech(PLTR.US)