Palantir stock nears all-time high after Goldman Sachs upgrade highlights next phase of growth

Palantir (PLTR) stock jumped 3% on Thursday morning, thanks to a vote of confidence from Goldman Sachs. Goldman's research team, led by Gabriela Borges, upgraded shares of Palantir to a Buy rating from Neutral, with a 12-month price target of $230. At that target, the firm sees 18% upside in Palantir's stock from its Wednesday closing price. "Our primary takeaway from our most recent set of industry conversations is that the stock is setting up for another phase of outperformance into 2027," the analysts wrote. They note that Palantir's total addressable market "may be setting up for another step function change in depth, because of the shift to sovereign AI, bespoke applications, and Palantir's newer verticalization strategy.