BofA Reiterates Buy on Palantir, Pointing to Expanding AI Backlog and Contract Momentum

Overview

• After December investor meetings in South Korea, BofA kept its Buy rating on Palantir and a $255 price target, according to analyst Mariana Perez Mora.
• BofA highlights rapid progress in the U.S. commercial business, citing a larger backlog, shorter contract cycles, and customers advancing quickly through Palantir’s value chain.
• Palantir recently secured a two-year, up-to-$448 million ShipOS award to deploy Foundry and its Artificial Intelligence Platform across the U.S. Maritime Industrial Base.
• The bank says the ShipOS initiative aligns the company with the administration’s reindustrialization priorities.
• Investor commentary also remains constructive, with Jim Cramer saying he sees no reason to step away from the stock even as he notes valuation concerns.