BofA raised the price target on Palantir Technologies’ (NASDAQ:PLTR) stock to $215 from $180 while maintaining its Buy rating on the shares, citing stronger growth across the company’s applications.
Shares of Palantir rose about 1% premarket on Tuesday.
Analysts led by Mariana Perez Mora said that following Palantir’s annual conference, AIPCon 8, on Sept. 4, they highlighted how the Ontology architecture and the Forward Deployed Engineers, or FDEs go-to-market strategy, continued to be Palantir’s secret sauce.
The analysts noted that last week, they spent time with Akshay Krishnaswamy, Palantir’s chief architect, discussing the role of the FDEs and how the company is already using Agentic AI capabilities to extend this idiosyncratic skillset to more use cases.
On the government front, Palantir received its first billion-dollar award outside the U.S. The award from U.K.’s Ministry of Defence, or MOD, builds on Palantir’s momentum as the global digital battle-management system, the analysts added.
“We see the AI FDEs as an accelerator of growth. By successfully implementing these breakthrough capabilities inhouse, the company will benefit from increased demand, scalability and empowered engineers that can focus on the most complex problems. We think more customers will be attracted to buy Palantir’s operating system (vs build their own) to accelerate the implementation of AI agents that extend their own unique abilities and core expertise,” said Mora and her team.
In addition, the analysts said that these AI FDEs will allow Palantir engineers and the customers themselves to continue to create new use cases. The analysts expect the company’s Commercial sales to exceed $10B by 2030.
As part of President Donald Trump’s state visit to the U.K., Palantir announced a strategic partnership with the U.K.’s MOD. The five-year-long, up-to £750M award marks Palantir’s first billion-dollar deal outside the U.S. and builds on Palantir’s existing U.K. exposure — National Health Service, or NHS and MOD — and growing international demand among U.S. allies.
Palantir’s Maven Smart System continues to grow in the U.S. – eight times since early 2024 – andwas selected in April by NATO to augment intelligence, target recognition, battlespace awareness, and decision-making capabilities for warfighters, according to the analysts.
Mora and her team expect other countries to increasingly consider Maven as their global digital battle-management system, as it provides both interoperability with the U.S. and allies, as well as governance on their own data. The analysts expect the company’s Government sales to exceed $8B by 2030.