UBS Raises Price Target for Palantir to $250 Amid Strong AI Momentum
On September 15, UBS analyst Karl Keirstead raised his price target for Palantir Technologies (PLTR) from $220 to $250 per share, reiterating a Buy rating. The adjustment followed the company's AIPCon11 event on September 10, where discussions highlighted growing demand and real-world deployment of its AI platform across diverse industries beyond government and defense. Keirstead emphasized three key takeaways: increased focus on data sovereignty among enterprises, broader industry adoption, and a shift from pilot programs to production use. Palantir's Q2 results also supported the bullish outlook with $3.4 billion in bookings and 157% net dollar retention rate. UBS has raised its target for the third time this year. Despite strong fundamentals, the stock remains under pressure due to valuation concerns on Wall Street, where the average price target is around $194. Keirstead argues that Palantir offers better growth relative to peers like Snowflake and CrowdStrike, suggesting current weakness presents an entry opportunity.
