Palantir Technologies stock rose over 3% Wednesday to a new high of $190. The rally follows the Federal Aviation Administration’s activation of an AI-powered airspace management system. While competitor Air Space Intelligence secured the primary contract, investors view the move as validation for the broader government AI sector.
Rosenblatt analyst John McPeake reiterated a Buy rating and a $225 price target for the company. McPeake highlighted potential future opportunities for Palantir within the FAA. The stock also gained support from a recent $48.1 million U.S. Army contract for an enterprise ammunition-management system.
Palantir shares have climbed 69% over the last three months. This growth reflects accelerating international expansion and increasing adoption of its AI platform.