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Palantir downgraded to sell by Citi

Boeing, GE stocks get a boost from upbeat news on potential COVID-19 vaccine

Palantir Technologies
PLTR,
-2.60%
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.

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Erin Clark

Erin is a sports enthusiast who loves indulging in occasional football matches. She is a passionate journalist who flaunts a perfect hold over the English language. She currently caters her skills for the sports and health section of Report Door.

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