Citigroup Just Raised Its Price Target on Palantir (PLTR) Stock

Citigroup has increased its price target on Palantir (NASDAQ:PLTR) to $23 per share, just as the company is set to report its earnings with expected profits of $84 million and revenue of $615 million. Despite this, Palantir's shares are trading higher at $24, surpassing the new target. The stock has seen significant growth, up 36% in 2024 and 200% over the past year, fueled by its expansion from military contracting to commercial sectors and its touted AI capabilities. Analysts and investors are optimistic, suggesting potential further increases post-earnings.