Wedbush Raises Palantir Price Target to $230 Ahead of Earnings, Citing AI Growth Potential
Wedbush Securities increased its price target on Palantir Technologies (PLTR) to $230 from $200, maintaining an Outperform rating ahead of the company's Q3 earnings report. Analysts led by Daniel Ives project revenue will surpass consensus estimates of $1.09 billion, fueled by accelerating adoption of its Artificial Intelligence Platform (AIP).
The firm sees Palantir as a potential trillion-dollar company within 2-3 years, with its bootcamp-driven commercial sales model demonstrating unusually fast conversion cycles. Government sector growth may also accelerate under potential TRUMP administration initiatives like Project Stargate.
Shares gained 2% in premarket trading following the bullish note, building on Friday's 3% rally. The market appears to be underestimating Palantir's dual-engine growth in both commercial and government AI solutions.
