"Jefferies Labels Palantir 'Underperform' Amid AI Hype Despite Market Gains"
TL;DR Summary
Jefferies analyst Brent Thill downgraded Palantir Technologies stock to underperform, citing the company as "overhyped on AI." Despite a 167% increase in 2023, Palantir's stock fell after the downgrade. Palantir, known for its AI software used by government agencies, has expanded into various sectors and launched an "Artificial Intelligence Platform" in early 2023. However, bearish analysts are concerned about the company's need to develop new revenue streams from generative AI technologies. Palantir's technical ratings remain high, but the company has yet to disclose pricing for its AI products.
Topics:business##artificialintelligence#business-and-finance#jefferies#palantirtechnologies#stockdowngrade#stockmarket
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