Palantir shares jumped 7.5% in morning trading after Palantir initiated with a Buy at BofA.
BofA analyst Mariana Perez Mora initiated coverage of Palantir Technologies with a Buy rating and $13 price target. The analyst sees the company as a beneficiary of "rapidly growing demand" for acritical intelligence platforms in both commercial and government end markets. Palantir's "dominant" position in the AI-powered software market should support more than 30% annual revenue growth and improving profits, Perez Mora tells investors in a research note.
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