Palantir stock ticks higher as Truist starts coverage with $223 target, valuation stays in play
Palantir Technologies shares rose 0.9% to $181.38 Wednesday after Truist initiated coverage with a “buy” rating and a $223 target, citing strong AI-driven revenue growth. The stock traded at over 400 times earnings, raising concerns about high expectations. Investors remained cautious ahead of Friday’s U.S. jobs report, which could impact tech valuations. Palantir’s next earnings are expected Feb. 2.