Wolfe Research Raises Recommendation to Peerperform as Palantir Shares Jump 5%
PLTR•Wolfe Research upgraded Palantir Technologies to Peerperform from Underperform, citing strong customer adoption of its Ontology data framework and robust revenue growth projections through 2029. Following the upgrade, Palantir shares surged over 5% despite a near 20% year-to-date decline and a 16% drop since early June.
1. Analyst Upgrade Details
Wolfe Research raised its recommendation on Palantir Technologies from Underperform to Peerperform after reviewing recent operating trends. The firm highlighted the strength of Palantir’s Ontology data framework in driving client adoption and revenue expansion.
2. Stock Performance Reaction
Shares climbed more than 5% in the trading session following the upgrade. This gain contrasts with a nearly 20% decline year to date and a 16% drop since the start of June.
3. Growth Projections Through 2029
Wolfe Research reaffirmed expectations for robust revenue growth through 2029 based on current trends, noting potential for even faster expansion under an optimistic scenario. The analysis underscores Palantir’s scalable platform and high-margin business model.
4. Valuation and Execution Risks
Despite the more constructive stance, Wolfe Research stopped short of a buy recommendation, citing valuation concerns and execution risks that could temper upside potential. No new 12-month price target was provided.
