Palantir Stock Gets Upgrade From Wedbush Despite Decline
Wedbush Securities upgraded Palantir Technologies (PLTR) from Neutral to Outperform with a $120 price target, yet the stock is still declining. The firm believes Palantir's AI and defense business is too strong to ignore despite the stock's weak 2026 performance.
Key Numbers
Wedbush Securities upgraded Palantir Technologies (PLTR) from Neutral to Outperform with a $120 price target, according to a report from Barrons.com. However, the stock continues to trade lower in the current session.
Rating Change
- Previous Rating: Neutral
- New Rating: Outperform
- Price Target: $120
Analyst Rationale
The Wedbush analyst sees Palantir's strong AI and defense business as too compelling to overlook, despite the stock's underperformance in 2026 relative to the S&P 500 and Nasdaq Composite.
Context
Palantir has had a rocky 2026, underperforming major indices. Wedbush believes the company's fundamentals will eventually overcome current market headwinds.
Other analysts have not yet issued similar calls, but the upgrade from Wedbush may signal a shift in Wall Street sentiment.
What to Make of It
The upgrade reflects confidence in Palantir's business model, but the stock's decline suggests the market may be focused on broader macro factors or valuation concerns. Investors should monitor upcoming quarterly results to validate the positive outlook.
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