Palantir Technologies (PLTR) may receive a boost in government contracts and federal IT spending, according to Wedbush Securities. Analysts believe the company’s efficiency-focused initiatives could lead to more contracts and increased budgets.
The firm cites growing confidence in Palantir’s role in key projects following its Washington D.C. checks. The analysts point to AI-driven software as a major opportunity for the company to streamline government operations.
Despite recent stock drops, Wedbush remains optimistic. The firm argues that Palantir is deeply embedded in high-priority defense programs unlikely to be affected by proposed budget cuts. Wedbush reaffirmed its Outperform rating and $120 price target, citing the company’s well-positioned position for success despite tighter budgets.
Source: https://finance.yahoo.com/news/palantir-set-bigger-government-role-144816011.html