Citigroup raised its price target on Palantir Technologies to $250 from $245 and maintained its Buy rating ahead of the company’s November 2 earnings report. The bank expects strong revenue growth and sees potential for results to exceed current estimates, citing momentum in Palantir’s U.S. government and commercial businesses.
Citi’s positive outlook is based on checks indicating robust demand, particularly from federal partners. The firm projects Palantir’s U.S. commercial revenue could grow by over 140%, despite tougher year-over-year comparisons.
Citi’s bullish view contrasts with a broader market downturn and investor concerns about high spending in the AI sector.