TECH - Prominent Fund Manager Bullish On Palantir's AI Potential Predicts Nearly 60% Upside | Benzinga
A notable fund manager has identified Palantir Technologies Inc (NYSE:PLTR) as a significant contender in the AI sector, predicting a substantial increase in its stock value.
What Happened: Brian Stutland, a portfolio manager at Equity Armor Investments, has highlighted Palantir as a promising AI investment. He pointed out the company’s expanding role in the AI domain, particularly in the defense and intelligence sectors, reported CNBC.
"They're doing more than just their cybersecurity for the government. They are really starting to become very creative in the AI world," Stutland said.
Stutland, who manages the Rational Equity Armor Fund, has given Palantir a price target of $37, indicating a potential 57% increase. He emphasized the company’s AI applications for military and defense, stating that Palantir is poised to become a significant player in this space.
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Palantir’s stock has already seen a 41% rise year-to-date, with a nearly 10% surge on March 6 following ...