Palantir (NASDAQ:PLTR) looked ike it was trading sideways like Nvidia (NASDAQ:NVDA) did when hype started to plateau. However, momentum has built up more, and it had another breakout moment Thursday. The stock hit fresh highs of $138.90.
Even analysts who’ve been bearish on its valuation have been forced to chase the price. Mizuho lifted its target to $116 while keeping an “Underperform” label, and Wedbush now sees $140 as the baseline. With a $1.3 billion Department of Defense expansion and a flood of new federal and commercial deals still rolling in, bulls argue that it might take only one more marquee contract to sling PLTR beyond $150.
This post originally appeared at Money Morning.