JPMorgan initiated coverage of Palantir Technologies with an overweight rating and a 12-month price target of $262, 33% above Wednesday’s close. Analyst Brian Essex said the growing adoption of artificial intelligence by large enterprises is benefiting Palantir, which has uniquely profitable hyper-growth fundamentals. The company also provides AI sovereignty solutions that allow customers to control their entire technology stack. Palantir is scheduled to report third-quarter results after market close on Nov. 2. Its shares have surged 59% over the past three months despite lagging the S&P 500 so far in 2026.
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