Palantir Technologies Inc (NYSE:PLTR)’ growth outlook remains supported by accelerating enterprise adoption of AI, Bank of America analysts have reiterated following a series of investor meetings in South Korea.
The firm wrote in a note that it came away from the meetings “confident as PLTR’s growth continues to build momentum in tandem with enterprise level AI adoption,” citing discussions with Palantir CFO Dave Glazer, deployment strategists Hind Kraytem and Austin Lee, and investor relations executive Cary Li.
The analysts pointed to continued strength in Palantir’s US commercial business, which they wrote is showing the strongest momentum across the company.
Bank of America highlighted a strengthening backlog, shorter contract durations, and customers expanding their use of Palantir’s platforms as key contributors to growth.
They believe customers are “rapidly climbing up the PLTR value chain,” suggesting deeper integration of Palantir’s software into enterprise operations.
In government, the analysts referenced Palantir’s recent two-year, $448 million US Navy ShipOS contract award. Bank of America believes this deal further aligns Palantir with the Trump administration’s stated priorities around domestic industrial capacity.
The firm also highlighted opportunities for margin expansion as Palantir scales its platforms across a growing number of use cases.
Bank of America said operating leverage is expected to increase as deployments expand, adding that it continues to see room for profitability improvement over time.
A central theme of the meetings was Palantir’s positioning in enterprise AI infrastructure. Bank of America described the company as “the best enterprise stack to implement AI at scale,” pointing to its ability to move rapidly from pilot projects to production-grade deployments.
The analysts said Palantir’s software enables “human-machine teams with the ability to make the most informed decisions,” particularly in complex, data-intensive environments.
Palantir’s ontology framework was also highlighted by the analysts as a differentiating feature. As enterprises deploy large language models and agentic AI systems, Bank of America said the ontology provides essential structure and oversight.
“As improvements in AI accelerate, enterprises are realizing that the infrastructure offered by Palantir is critical for them to incorporate these rapidly evolving capabilities,” the analysts wrote, adding that time-to-deployment is becoming a decisive factor in build-versus-buy decisions.
On competition, Bank of America said Palantir increasingly interoperates with other software products that address specific parts of the data and analytics stack.
However, the analysts argued that many of these tools still rely on a unifying framework to connect data to outcomes.
“Most solutions start from data analytics and build into the use cases, whereas Palantir starts from the business problem and builds the solution backwards to data,” they wrote.
As such, Palantir’s primary competition remains internal IT teams developing bespoke systems, according to the analysts.
The firm maintained its ‘Buy’ rating on the stock and reiterated a price objective of $255, implying upside from current levels of about $187.