Even though Palantir Technologies Inc. (NASDAQ: PLTR) stock is almost retesting its 52-week high, amid heated debate on whether its best artificial intelligence (AI) opportunity has already been realized, Gabriela Borges, a Wall Street analyst at Goldman Sachs Group Inc. (NYSE: GS), has upgraded it to a ‘Buy’ rating.
On October 8, 2026, Borges upgraded Palantir stock to a ‘Buy’ rating from ‘Neutral’. This analyst set the bank’s 12-month price target for PLTR at $230.
With PLTR stock price trading at $198.05 at the time of writing, Goldman Sachs signals a likely 16.13% upside over the next 12 months. This renewed bullish sentiment was based on the company’s expanding Total Addressable Market, powered by sovereign Artificial Intelligence (AI) demand for bespoke enterprise applications, and an accelerated verticalization strategy, led by governments.
This accelerated demand for Palantir products from reliable markets is expected to boost its revenue over the coming 12 months, thereby supporting this renewed bullishness. Furthermore, the bank pointed to the company’s annualized revenue run rate of $8 billion and approximately 100% growth.
PLTR stock price prediction
So far in October, two more Wall Street analysts have reaffirmed a bullish outlook on PLTR. Specifically, Daniel Ives, an expert at Yorkville Ives, initiated a ‘Buy’ rating for Palantir stock and set a 12-month price target at $250.
As a result, 23 Wall Street analysts surveyed by TipRanks over the last 3 months have set an average 12-month price target for PLTR stock at $204.15.
Is Palantir a good stock to buy?
Over the past 12 months, Palantir stock has gained 6.78%, which is dismal compared to the 2023-2025 bull run.
Nonetheless, Wall Street analysts remain bullish on PLTR stock for the next 12 months, led by Goldman Sachs.
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