Wedbush raised its 12-month price target on Palantir Technologies Inc (NYSE:PLTR) to $160 from $140 on Thursday, citing accelerating demand for the company’s artificial intelligence software across commercial and government sectors, and positioning it as a frontrunner in what it called a “trillion-dollar AI spend” wave.
Calling Palantir the “Messi of AI,” Wedbush analyst Dan Ives reiterated an “Outperform” rating on the stock.
The brokerage named Palantir one of its top picks in its “IVES AI 30” list, crediting the company’s AIP (Artificial Intelligence Platform) strategy as foundational for enterprises adopting AI.
“Palantir has a golden path to become the next Oracle,” Ives wrote in a note. “While the valuation is expensive today, we see Palantir as a core winner.”
Wedbush highlighted strong demand signals for Palantir’s AIP platform, noting that both new and existing customers are adopting the technology to deploy products, streamline workflows, and drive efficiency across sectors. Bootcamps organized by Palantir are reportedly leading to rapid sales cycles and conversion timelines.
The brokerage also said it believes Wall Street is underestimating the revenue potential of Palantir’s US commercial AIP business, which it forecasts could exceed $1 billion over the next few years.
On the federal front, Wedbush cited momentum from a deepening relationship with the US government under the Trump administration, including stepped-up AI investments such as Project Stargate. It also pointed to a recent NATO contract as evidence of growing traction in Europe.
“Palantir is in the sweet spot to benefit from a tidal wave of federal spending on AI across North America and Europe,” Ives said, adding that the company is poised to expand globally, including in the Middle East.
Shares of Palantir are up over 85% year-to-date, buoyed by growing investor enthusiasm for AI-driven software firms.