Palantir Technologies Inc.’s stock
PLTR,
rose 6.5% in premarket trades Monday, continuing its recent rally. Shares of the software maker ended Friday’s session up almost 10.3%, in their largest single-day percentage gain since May 18, 2023, when they rose 14.5%. On Friday analyst firm Wedbush initiated coverage of Palantir with an outperform rating and $25 price target. Palantir is “the Messi of AI on the golden track to success,” Wedbush analyst Dan Ives wrote in a note, making a comparison to Argentine soccer star Lionel Messi, who is currently enjoying a stellar start to his MLS career at Inter Miami. “In a nutshell, we believe Palantir has built an AI fortress that is unmatched and poised to be a major player in this AI Revolution over the next decade.” Shares of Palantir have risen 177.4% in 2023, outpacing the S&P 500 index’s
SPX,
gain of 19.3%.
