(CercleFinance.com) – Palantir Technologies shares fell on Wall Street on Friday after Jefferies downgraded its recommendation due to the boom linked to AI which recently boosted the stock.
Around 10:15 a.m. (New York time), the stock recorded a decline of 1.5% and returned to test its lowest levels since the end of last October.
Jefferies reduced its rating on the US data analytics specialist to ‘underperform’, with a price target set at $13.
While he admits that the software group has a technological advantage in AI in the long term, the analyst also believes that the euphoria surrounding the technology has taken the stock to ‘unsustainable’ valuation levels.
From his point of view, Palantir can indeed gain market share in this largely under-exploited market at the moment, but its monetization strategy in this area is non-existent at the moment, which leads it to perceive more risk than reward. potential good surprises at current levels.
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