Original source (on modern site) | Article images: [1]
Palantir (NYSE:PLTR) dipped in trading after top-rated Monness Crespi analyst Brian White downgraded PLTR to a Sell from a Hold citing the data analytics company's "egregiously rich valuation." White pointed out that over the past year, PLTR stock has skyrocketed by more than 100% riding on the generative AI hype but could now be susceptible to a potential economic downturn. While the analyst noted that PLTR could stand to benefit over the long term from generative AI, the company's revenues from government contracts remain lumpy with spotty execution, and excessive valuation. White's price target of $20 on PLTR implies a downside potential of 14.4% at current levels. Analysts remain sidelined about PLTR stock with a Hold consensus rating based on two Buys, six Holds, and five Sells. The average PLTR price target of $19.64 implies a downside potential of 16% at current levels.Is Palantir a Buy, Hold, or Sell?
![[1]](image.php?loc=US&i=https://blog.tipranks.com/wp-content/uploads/2024/03/shutterstock_1856774899-4-750x406.jpg){kind=link}