With its inclusion in the S&P 500 index, Palantir Technologies Inc. (NASDAQ:PLTR) is entering a new phase that will likely attract a new wave of investors and long-term capital, according to Bank of America.
On Tuesday, the investment bank reiterated a Buy rating and raised the price target for the data analytics and artificial intelligence firm from $30 to $50, as "S&P 500 inclusion provides a watershed moment" for institutional investors.
"We think that becoming a member of the S&P 500 could be highly beneficial to PLTR's stock volatility. We think that the inclusion would attract more institutional investors, both passive and active," wrote Mariana Perez Mora, an analyst at Bank of America.
Strong Financials, Strategic AI Leadership
Palantir has become a key player in artificial intelligence, leveraging its deep ties with both government and commercial sectors. Bank of America's revised $50 price target reflects a new valuation approach, which rolls estimates forward to 2026.
This leads to a projected enterprise value of $116 billion, propelling Palantir closer to the top 100 companies in the S&P 500 (from its current ranking in the 165th range).
Mora explained that the elevated multiple derived from the updated price target is justified by Palantir's position in national security, its leadership in AI platforms, and its opportunistic partnerships.
She also stressed the company's strong balance sheet, particularly its $3.9 billion net cash position, as a sign of financial strength that sets Palantir apart from competitors.
A Misunderstood Giant in AI
Bank of America draws attention to a significant market underestimation of Palantir's future potential, likening it to AT&T Inc.'s (NYSE:T) early misjudgment of the mobile phone market in the 1980s.
"In 1980, AT&T hired a consultancy company to estimate the market size for cell phones by 2000. The study suggested there would only be 900k users. The actual number of mobile subscriptions in 2000 was more than 100 million," the report stated.
The analogy underscores how early forecasts often miss the mark on disruptive technologies. Similarly, Palantir's advanced AI capabilities, particularly its Foundry platform, are seen as a vastly underappreciated asset.
Foundry is designed to make data not only accessible but actionable, transforming decision-making processes across various industries.
Bank of America's bullish outlook on Palantir is also supported by its expanding list of partnerships. The company is working closely with major corporations and government agencies, including PwC, Jacobs, Accenture, and Airbus, to broaden its customer base.
"We see Palantir as a beneficiary of rapidly growing demand for Artificial Intelligence (AI)-platforms in both commercial and government end-markets," the report stated.
Shares of Palantir traded 0.4% lower by 11:15 a.m. ET on Tuesday, after rallying as much as 14.1% a day earlier.
Within the software-related industry, as tracked by the iShares Expanded Tech-Software Sector ETF (NYSE:IGV), Palantir ranks third in year-to-date returns, rising 100%, behind Zeta Global Holdings Corp. (NYSE:ZETA), which skyrocketed 187%, and AppLovin Corp. (NYSE:APP), which surged 116%.
美国银行表示,随着被纳入标准普尔500指数,Palantir Technologies Inc.(纳斯达克股票代码:PLTR)正在进入一个新阶段,这可能会吸引新一轮的投资者和长期资本。
周二,该投资银行重申了买入评级,并将这家数据分析和人工智能公司的目标股价从30美元上调至50美元,因为 “标普500指数的纳入为机构投资者提供了一个分水岭”。
“我们认为,成为标准普尔500指数的成员可能对PLTR的股票波动非常有利。我们认为,纳入将吸引更多的被动和主动机构投资者。” 美国银行分析师玛丽安娜·佩雷斯·莫拉写道。
强劲的财务状况,人工智能的战略领导力
Palantir利用其与政府和商业部门的深厚关系,已成为人工智能领域的关键参与者。美国银行修订后的50美元目标股价反映了新的估值方法,该方法将估值向前推迟至2026年。
这使Palantir的预计企业价值达到1160亿美元,使Palantir更接近标准普尔500指数的前100家公司(目前排名第165位)。
莫拉解释说,Palantir在国家安全领域的地位、其在人工智能平台中的领导地位以及其机会主义合作伙伴关系证明了更新的目标股价所带来的倍数上升。
她还强调了该公司强劲的资产负债表,特别是其39亿美元的净现金状况,这表明了Palantir在竞争对手中脱颖而出的财务实力。
被误解的 AI 巨人
美国银行提请注意市场对Palantir未来潜力的严重低估,将其比作At&T Inc.(纽约证券交易所代码:T)1980年代对手机市场的早期错误判断。
“1980年,At&t聘请了一家咨询公司来估计到2000年手机的市场规模。该研究表明,只有90万用户。报告指出,2000年的实际移动订阅量超过1万人。”
这个比喻凸显了对颠覆性技术的早期预测往往不合时宜。同样,Palantir的先进人工智能能力,尤其是其Foundry平台,被视为一项被严重低估的资产。
Foundry旨在使数据不仅可访问而且可操作,从而改变各个行业的决策流程。
美国银行对Palantir的看涨前景也得到了其不断扩大的合作伙伴清单的支持。该公司正在与包括普华永道、雅各布斯、埃森哲和空中客车在内的各大公司和政府机构密切合作,以扩大其客户群。
报告指出:“我们将Palantir视为商业和政府终端市场对人工智能(AI)平台需求快速增长的受益者。”
截至美国东部时间周二上午11点15分,Palantir的股价下跌了0.4%,此前一天上涨了14.1%。
根据iShares扩张科技软件板块ETF(纽约证券交易所代码:IGV)的追踪,在软件相关行业中,Palantir的年初至今回报率排名第三,增长了100%,仅次于飙升187%的泽塔环球控股公司(纽约证券交易所代码:ZETA)和飙升116%的AppLovin公司(纽约证券交易所代码:APP)。