Citi Raises Palantir (PLTR) Price Target Ahead of Earnings; RBC Warns on Valuation

Palantir Technologies Inc. (NASDAQ:PLTR) is a Must-Watch AI Stocks on Wall Street. On October 28, Citi reiterated the stock as “Neutral” and raised its price target ahead of earnings week to $190 per share from $177.

The firm anticipates that Palantir will report robust Q3 results after positive channel checks across Palantir’s government and commercial businesses.

“Our intra-Q checks from partners and customers were positive, including checks from Oracle and Snowflake conferences intra-Q, where partners reported uptick in collaborative deals.”

In other news, RBC has maintained its Underperform rating and $45 price target for the stock. The firm believes that Palantir's premium valuation appears unsustainable unless it delivers a substantial beat-and-raise quarter.

“We maintain our Underperform rating and $45 price target on Palantir ahead of Q3 earnings scheduled for November 3th after market close. We see unfavorable risk/reward. Shares of PLTR are up ~20% over the past three months (vs. ~4% for IGV). Heading into Q3 earnings, among our RBC All-SaaS constituents, Palantir is one of three names we track trading >20x EV/CY26E revenue (see here). We cannot rationalize why Palantir is the most expensive name in our software coverage. Absent a substantial beat-and-raise quarter elevating the NT growth trajectory, valuation seems unsustainable.”

Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems.

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