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Palantir Gets Credit Suisse Neutral Rating, Stock Slides

Published 16/11/2021, 15:50
Updated 16/11/2021, 15:50
© Reuters

By Sam Boughedda

Investing.com — Credit Suisse told investors it has initiated Palantir Technologies Inc (NYSE:PLTR) with a neutral rating on Tuesday

Analyst Phil Winslow put a $25 price target on the stock. However, its shares have fallen over 3%, to $22.69, so far in Tuesday's session.

Winslow said he believes the company offers a differentiated "converged data fabric" that enables companies to use diverse data sets.

Winslow added that there is significant potential for the company's Foundry product within commercial businesses. However, the analyst warned that Palantir relies on large deals with a few customers, seeing it continue to report an uneven financial performance.

Yesterday Palantir said it has teamed up with artificial intelligence firm BigBear.ai.

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