palantir technologies inc has a strong position in artificial intelligence but finding a catalyst for its highflying shares has become “more challenging” according to an analyst raymond james’ brian gesuale downgraded palantir’s stock pltr to outperform from strong buy tuesday citing the “recent run in shares coupled with a premium valuation” the stock has risen 39 over the past month and it’s ahead 154 on a yeartodate basis closing above 16 friday palantir’s stock “now reflects a material element of our near term bullishness” wrote gesuale who remained upbeat about the company’s ability to capitalize on the rush of interest around ai and lifted his price target on the stock to 18 from 15 tuesday palantir could see 40 customer additions for its ai platform aip this year followed by at least 90 in each of the next two years by his math see also palantir’s stock rises as bofa cheers company’s ‘unique position’ in ai he expected the company could see 281 billion in total revenue for 2024 slightly above his prior projection of 280 billion which was already the highest estimate listed on factset “fundamentals should trough in 2023 and preai bear concerns focused on 4q sales ramp and prior results getting help from nonrecurring sources such as japan and spac sales should dissipate as the story shifts to ai opportunity” gesuale added see also how will ai affect stocks of semiconductor companies here are the 18 expected to grow their sales most quickly elsewhere william blair analyst louie dipalma reiterated his cautious view of the stock in a friday note to clients “while palantir shares may continue to trend higher in the near term in parallel with c3ai…downside risk has significantly increased” he wrote “investors may grow frustrated if palantir’s revenue growth remains in the teens after the recent runup” more from marketwatch yes ai is coming for your job here’s how to prepare