Posted 1/5/2024, 4:45:34 PM
Palantir Stock Downgraded by Jefferies on Concerns of Overhype and Slowing Growth
- Palantir shares fell 2% after Jefferies downgraded stock to "underperform" from "hold"
- Jefferies said Palantir was "overhyped" on artificial intelligence capabilities
- Analysts shifted view after "underestimating severity of slowdown" in Palantir's businesses
- Palantir stock more than doubled in 2023 amid "AI trade" enthusiasm
- Jefferies sees reliance on commercial segment to drive growth as a risk