Palantir price target raised to $20 from $18 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Palantir to $20 from $18 and keeps a Sell rating on the shares. The company reported an “upbeat” Q1, led by sustained momentum in its U.S commercial business, where it is one of the earlier software companies to meaningfully monetize generative artificial intelligence, the analyst tells investors in a research note. However, the firm says Palantir’s ability to drive stronger growth acceleration in 2024 is being constrained by its Government and International Commercial businesses “that aren’t yet seeing similar AI tailwinds as US Commercial.”