Why Wedbush Sees Palantir Hitting $120

• Palantir’s (PLTR) stock rose $1.76, or 2.07%, to $86.94 midday Monday, surpassing its 50-day MA of $86.50 with a 5% peak at $90.48, driven by a Wedbush report highlighting its fit with Elon Musk’s government efficiency push.
• Wedbush analysts, citing Washington contacts, see Palantir gaining IT budget and Pentagon deals due to its “unique software value proposition,” with a $120 price target tied to its AI-driven growth potential.
• The rally positions Palantir to leverage the Trump administration’s AI focus, potentially reaching a $1 trillion market cap and rivaling Oracle or Salesforce, bolstered by secure, high-priority government contracts.

Palantir’s (PLTR) stock surged $1.76, or 2.07%, to $86.94 in midday trading on Monday, reclaiming its 50-day moving average of $86.50 after peaking at $90.48 with a 5% intraday gain, fueled by a Wedbush report countering a recent selloff with bullish insights on its government ties. The Wedbush analysts, citing Washington contacts, argue that Palantir’s “unique software value proposition” aligns with Elon Musk’s Department of Government Efficiency, potentially unlocking more IT budget dollars and deals across agencies, particularly at the Pentagon, where its high-priority contracts face little risk of cuts. With a price target of $120, Wedbush sees Palantir riding the Trump administration’s AI focus toward a $1 trillion market cap, positioning it as a potential successor to giants like Oracle (ORCL) or Salesforce (CRM) in the enterprise software landscape.

The stock’s rebound reflects Palantir’s entrenched role in AI-driven data analytics, a capability that’s increasingly vital as government efficiency initiatives demand scalable, secure solutions—areas where Palantir’s platforms excel. Its 5% morning jump underscores investor confidence in this narrative, despite broader market volatility, with the $90.48 intraday high signaling momentum tied to its strategic fit within a policy shift favoring domestic tech innovation. Wedbush’s $120 target, a significant leap from $86.94, hinges on Palantir capitalizing on AI’s transformative potential, a trend that’s already propelled its valuation skyward and could cement its status as a sector leader if government contracts continue to flow.

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