TLDR
- Palantir (PLTR) stock traded at $206.58 Monday, down about 1% after touching a record $209.70.
- Baird raised its price target to $250 from $200, about 20% above Friday’s close.
- Baird says cheaper AI models could push more companies to adopt AI and use Palantir.
- Palantir and Ondas (ONDS) announced Regna AI, a private company for independent AI systems.
- Goldman Sachs upgraded Palantir to Buy last week with a $230 target.
Palantir (PLTR) stock traded at $206.58 on Monday afternoon, down about 1%. It closed Friday at $209.05.
Palantir Technologies Inc., PLTR
Earlier in the day, the stock touched an all-time high of $209.70. That is just above its previous 52-week high of $209.58.
Baird raised its price target on Palantir to $250 from $200. The new target is about 20% above Friday’s close.
Analyst William Power said cheaper AI models could push more companies to adopt AI. That could mean more demand for Palantir’s software.
Baird wrote, “We believe the shift to open-weight models could unlock a new major chapter for AI adoption, and Palantir is at the forefront of enabling it.” The firm kept its Outperform rating.
What Baird Sees in Cheaper AI
Palantir’s software lets businesses use AI models from several developers instead of one provider. As those models get cheaper, Baird says firms may use more of them.
Power pointed to L3Harris (LHX). The defense contractor said Palantir helped cut its AI processing costs by 95%.
Yorkville Ives also started coverage with an Outperform rating and a $250 target. It cited Palantir’s role in enterprise and government AI.
Goldman Sachs analyst Gabriela Borges upgraded Palantir to Buy from Neutral last week. Her price target is $230.
Borges said Palantir’s potential market is growing. Governments and businesses want more control over their AI systems.
Regna AI and the Year So Far
Palantir and Ondas announced Regna AI on Monday. It is a private company meant to help governments and businesses build AI systems they can run on their own.
Ondas will own Regna AI at first, while Palantir supplies AI infrastructure and engineering expertise. Ondas will also be its first customer.
Palantir stock is up 17% this year and 11% in October. Over the past six months, it has gained 63%.
The company has a market value of about $501 billion. InvestingPro analysis says the stock looks overvalued against its Fair Value.
Ondas stock was flat on the news. Palantir was down 1.18% at $206.58 in afternoon trading Monday.
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