Palantir Stock Drops as Top Analyst Downgrades to Sell, Citing Egregiously Rich Valuation

• Palantir (PLTR) stock dipped after top analyst Brian White downgraded it to Sell from Hold due to its "egregiously rich valuation" • White pointed out PLTR is up over 100% in the past year amid AI hype, but may be vulnerable to economic downturn • While PLTR could benefit long-term from generative AI, revenues from government contracts are uneven • White's $20 price target on PLTR implies a 14.4% downside from current levels • Analyst consensus on PLTR is a Hold, with an average price target of $19.64 implying a 16% downside