HSBC Downgrades Palantir to Hold, Cuts Price Target Amid Rising AI Competition
HSBC downgraded Palantir Technologies to 'hold' from 'buy' and reduced its price target to $151 from $205, citing increased competition in the AI software space. The bank noted that Palantir's traditional barriers to entry are eroding due to the proliferation of agentic frameworks and model context protocol servers, which could pressure the stock's valuation.
Topics: AI competition HSBC Palantir software market stock downgrade