Palantir Stock Rallies On Morgan Stanley Upgrade By Investing.com

Palantir Stock Rallies On Morgan Stanley Upgrade

Stock Markets Mar 07, 2022 12:18PM ET

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Palantir Stock Rallies On Morgan Stanley Upgrade

By Sam Boughedda

Investing.com -- Palantir Technologies Inc (NYSE:PLTR) stock is gaining Monday after Morgan Stanley analyst Keith Weiss upgraded it from underweight to equal weight, setting a price target of $16, implying an approximately 46% upside.

Palantir shares are up 5% Monday.

The analyst said the company has a combination of a "well-positioned Government business, potential for Commercial to accelerate on sales investments, and strong unit economics.”

He added that the company trades at “a discount to peers on a growth adjusted basis."

Adding that it is "largely due to uncertainty in the durability of growth levels and loss of management credibility around investments in companies who agree to utilize the software platform.”

However, Weiss said he believes those concerns are now adequately priced in, and the risk-reward has shifted towards the "neutral to positive territory."

Weiss upgraded the stock but is "awaiting more visibility of positive catalysts around a durable government business and yields on recent investments in commercial."

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