BofA raises Palantir's $Palantir (PLTR.US)$ price target to ...

BofA raises Palantir's $Palantir (PLTR.US)$ price target to $50 from $30 ahead of S&P 500 inclusion on Sept. 23. PLTR stock is up 101% in 2024 and now ranks No. 10 on the IBD 50 growth stocks list!

👉 Key Highlights:
📍 BofA hiked Palantir's (PLTR) price target to $50 from $30 due to its inclusion in the S&P 500 index.

📍 Palantir stock has advanced 101% in 2024.

📍 Palantir will join the S&P 500 index before the open on Sept. 23, increasing accessibility for mutual funds and institutional investors.

📍 PLTR stock ranks No. 10 on the IBD 50 roster of growth stocks.

📍 Bulls emphasize improved profitability, while bears question whether revenue growth will reaccelerate.

📍 Artificial intelligence stocks remain a strong consideration for Palantir's potential growth trajectory.

👉 Expert Statement:
🗨️ "This was a moment that PLTR investors have been anxiously waiting for over the past year as the profitability profile of this story has significantly been bolstered with this another validation moment for the Palantir story. Getting added to the S&P 500 Index is an important moment in the Palantir story that we believe marks a new era of enterprise growth and profitability," - Wedbush analyst Daniel Ives.