REX AI ETF Poised for Growth After Palantir Partnership and $195 Upgrade
REX AI Equity Premium Income ETF holds 8.93% in Palantir Technologies, which announced a partnership with Rackspace Technology to expand its trained engineer team from 30 to over 250. Mizuho upgraded Palantir to Outperform with a $195 price target, potentially boosting the ETF’s NAV through its largest holding.
1. Portfolio Composition
REX AI Equity Premium Income ETF allocates 8.93% of its assets to Palantir Technologies, making it one of the top three holdings. This concentration means that any significant move in Palantir’s share price will have an outsized effect on the ETF’s net asset value and distribution potential.
2. Palantir Partnership Details
Palantir entered a strategic alliance with Rackspace Technology to deploy its Foundry and AI Platform solutions more rapidly across enterprise clients. Rackspace will scale its team of Palantir-trained engineers from 30 to over 250 within the next year, enhancing implementation capacity and driving potential revenue growth for Palantir.
3. Analyst Upgrade Impact
Mizuho raised Palantir to Outperform and set a $195 price target, reflecting confidence in the company’s growth trajectory. Given the ETF’s significant exposure, this upgrade could attract inflows into the fund as investors seek leveraged AI and data analytics exposure, boosting demand for underlying shares.