Bank of America expects this software stock to benefit from heightened demand for secure solutions as artificial intelligence disrupts the world.
Analyst Mariana Perez Mora reiterated her buy rating on Palantir Technologies and $18 price target, calling the company a "key player" even after its recent pullback.
Palantir sits in a "unique position" as an enabler of AI implementation across commercial and government sectors, she said.
Based on Bank of America's price target, Perez Mora sees more upside in store, with the $18 objective implying shares could rally another 23% from Monday's close.
Key to Palantir's growth story is its recently released AI platform, which fuels the growing need for secure and reliable data infrastructure, Perez Mora said.
Persons:
Mariana Perez Mora, Palantir, Perez Mora, — CNBC's Michael Bloom
Organizations:
of America, Palantir Technologies, Bank of, AIP, U.S . Department, National Health Service
Locations:
Monday's