08:05 AM EDT, 05/07/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target price to $26 from $22, on a P/E multiple of 74x our NTM EPS estimate of $0.35, above its 1-year historical average. We increase our 2024 EPS forecast to $0.34 from $0.32, and our 2025 EPS forecast to $0.39 from $0.38. PLTR reported Q1 revenue of $634M, a beat of $16.7M, and non-GAAP EPS of $0.08 was in line with consensus. Revenue accelerated 20.8% Y/Y, as commercial revenue climbed 26.7%, boosted by demand from its U.S. customers. PLTR added 41 new U.S. logos (+69% Y/Y), as momentum from AIP continues to grow. International commercial sales were slower by comparison, up 16% Y/Y, but registered a 3% sequential decline due to headwinds in Europe. Government revenue rose 16% Y/Y. While we applaud Q1 results and see continuing strength in the U.S. commercial business, full year guidance suggests a slight weakening in 2H against prior expectations. Elevated multiples also make for a less favorable risk/reward amid the current challenging economic landscape, in our view.