Palantir downgraded to sell by Citi

/ / News

Palantir Technologies was downgraded to sell from neutral by Citi, though its price target was raised to $15 from $10. “After a 150+% rise in the stock since the September direct listing, we believe the stock is vulnerable heading into 2021 with the upcoming lockup expiry, and an expected deceleration in growth. Specifically we see risk around the lapping of COVID-19 related contracts, which have the potential to become headwinds in 2H21 into 2022,” the analysts said. They also flagged concern about its commercial business. Palantir closed Wednesday at $25.50.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.