Wedbush increased its price target for Palantir (NYSE:PLTR) to $35 from the previous $30, reiterating an Outperform rating for the company. The analysts highlighted Palantir’s significant momentum in artificial intelligence, which is starting to reach an inflection point. The firm’s recent field checks on Palantir have shown a growing positive sentiment, especially around its AIP foundation, which is increasingly seen by U.S. enterprises as a pivotal platform for AI use cases.
According to Wedbush, customers across various industries are identifying more applications for AIP, leading to substantial cross-selling opportunities. With its strong product offerings and AI capabilities, Palantir is expected to capture a significant portion of the global AI market, estimated at $1 trillion. Ives believes that Palantir is well-positioned to benefit from the AI revolution, with the potential to significantly monetize its services within both enterprise and government sectors.