BofA Securities analysts raised their price target on Palantir Technologies Inc. (NYSE:PLTR) to $18 from $13, while reiterating their Buy rating, noting that the company has a “unique position” to take advantage of the “rising AI opportunity”.
The analysts assert that companies eager to utilize generative AI face similar major requirements related to compliance, regulations, ethics, laws, privacy rights, data security, and oversight. Palantir’s advantage lies in its experience with the government and regulated industries, having already developed a compliant and private architectural design for generative AI.
According to the analysts, existing Palantir clients suggest that the company is five years ahead of its closest competitor and implementing AIP solutions could enhance its customer penetration and partnership prospects.