Palantir downgraded to promote by Citi

Palantir Applied sciences
PLTR,
-2.60%
was downgraded to promote from impartial by Citi, although its value goal was raised to $15 from $10. “After a 150+% rise within the inventory for the reason that September direct itemizing, we imagine the inventory is susceptible heading into 2021 with the upcoming lockup expiry, and an anticipated deceleration in development. Particularly we see threat across the lapping of COVID-19 associated contracts, which have the potential to turn into headwinds in 2H21 into 2022,” the analysts stated. In addition they flagged concern about its industrial enterprise. Palantir closed Wednesday at $25.50.