Argus Research initiates "buy" rating for Palantir, citing commercial sector growth.

Palantir's stock has surged after Argus Research initiated coverage with a "buy" rating and a $29 price target. Analysts cite the company's expanding commercial sector, focusing on data management and analytics platforms, as a key growth driver. While 55% of Palantir's revenue in 2023 came from its government business, the commercial segment, particularly within the US, is expected to play a significant role in the company's future growth.