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BUZZ-Palantir rises after Citi upgrades to 'buy' citing AI impact

Reuters01:14

BUZZ-<a href="https://laohu8.com/S/PLTR">Palantir</a> rises after Citi upgrades to 'buy' citing AI impact

** Shares of Palantir Technologies PLTR.O are up 0.4% at $178.12 on Monday

** Citigroup analysts upgraded the rating of the government software platform to "buy" from "neutral," citing prospects of increased revenue estimates in 2026 amid rising AI budgets and use cases

** PLTR on track for two straight sessions of gains

** "Our upgrade is premised on our view that 2026 is poised to be another year of significant positive estimate revisions, withrecent CIO + industry conversations suggesting AI budgets and use cases are accelerating in the enterprise," Citigroup analysts said in an investor note

** "We also see significant tailwinds in the government driven by accelerating defense budgets and modernization urgency," the analysts said

** Citigroup also raised its PT on PLTR to $235 from $210

** Among 27 analysts covering PLTR, avg rating is "HOLD" and median PT is $200, per data compiled by LSEG

** PLTR is up 0.2% YTD vs NASDAQ Composite Index's .IXIC 2.2% increase

(Reporting by Chibuike Oguh in New York)

((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))

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