The post Analyst sets $28 price target for Palantir stock appeared on BitcoinEthereumNews.com.
Palantir (NASDAQ: PLTR) finds itself at a critical juncture as Jefferies analyst Brent Thill reiterated his ‘Underperform’ rating, maintaining a $28 price target for the stock on January 13. Despite its meteoric rise of +341% in 2024, Thill’s caution reflects growing concerns over Palantir’s valuation, volatility, and insider selling trends. The analyst’s bearish stance on Palantir dates back to his November 7 downgrade, when he revised his rating from ‘Hold’ to ‘Underperform’ while maintaining the same $28 price target. In his analysis, Thill emphasizes the risk of “multiple compression”—a scenario in which Palantir’s premium valuation could erode as broader market sentiment shifts, particularly amid increased competition in AI and data analytics. Palantir stock analysis PLTR stock closed at $64.98 on Monday, marking a 3.39% decline for the day and a staggering 17.73% drop over the past five trading sessions. In the last month, Palantir has fluctuated within a wide range of $63.40 to $84.80 and is currently trading near the lower end of this band. PLTR 1-month stock chart. Source: Finbold In this case caution is advised, the recent downward momentum suggests it may be prudent to avoid initiating new long positions until the stock finds firmer ground and demonstrates signs of consolidation. PLTR price action and technical indicators Palantir remains near the upper portion of its 52-week range, keeping it in line with broader market performance, as the S&P 500 also trades at elevated levels. Despite this, the stock’s volatility has made it difficult for investors to identify attractive entry and exit points. Key technical levels reveal a support zone at $54.44, marked by a trendline on the daily chart. On the upside, significant resistance is evident in the $64.99 to $65.53 range, formed by the confluence of multiple trendlines and key moving averages across various time frames. Breaching this…