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Palantir Stock Rallies On Morgan Stanley Upgrade -Breaking


© Reuters

Sam Boughedda — Palantir Technologies Inc (NYSE:) stock is gaining Monday after Morgan Stanley analyst Keith Weiss upgraded it from underweight to equal weight, setting a price target of $16, implying an approximately 46% upside.

Palantir shares were up 5% on Monday

The analyst said the company has a combination of a “well-positioned Government business, potential for Commercial to accelerate on sales investments, and strong unit economics.”

He added that the company trades at “a discount to peers on a growth adjusted basis.”

Adding that it is “largely due to uncertainty in the durability of growth levels and loss of management credibility around investments in companies who agree to utilize the software platform.”

Weiss stated that he thinks those worries are well priced and that the risk-reward ratio has moved from the “neutral” to the “positive territory.”

Weiss raised the stock, but said that he is still “awaiting more visibility around positive catalysts for a durable business in government and yields from recent commercial investments.”


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