The firm cut its rating to underweight and has a price target of $9.
Difficulties monetizing around artificial intelligence could spell bad news for Palantir after its massive rally, Morgan Stanley warned. Analyst Keith Weiss downgraded the data analytics stock to underweight from equal weight while adding $1 to his price target to $9. Still, Weiss' target implies shares could tumble 44.9% in the next year from Wednesday's close. The stock slid 4.6% before the bell. Shares have surged 154.4% this year as investors bought into names with AI exposure.
" PLTR YTD mountain Palantir, year to date Weiss said the company's valuation reflects the promise of AI, with the multiple expanded by more than 180% and shares re-rated with the pivot into artificial intelligence. But he warned there could be delays in revenue amid challenges monetizing. And Palantir's government business may be unable to make up a revenue deceleration.
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