April 15 - Wedbush analyst Daniel Ives said that Palantir (PLTR, Financial) is in a prime position for artificial intelligence in defense after the company landed a deal to supply NATO with its Maven Smart System. This AI-powered military tool will support NATO, which includes 32 countries across Europe and North America.
Ives has kept his "Outperform" rating on Palantir, with a price target of $120. That's about a nearly 30% upside from where the stock is now. He sees this NATO contract as a sign that defense agencies are increasingly turning to Palantir's AI capabilities.
Even with past concerns over defense spending, Ives is confident in Palantir's prospects. The company's ability to handle sensitive data, he says, sets it apart in a growing market.
Palantir's stock has soared 332% over the past year, and with its expanding role in both government and commercial sectors, Ives believes there's plenty more room for growth, making it a solid pick heading into 2025.
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