JPMorgan Initiates Coverage on Palantir with Overweight Rating and $262 Price Target
JPMorgan analyst Brian Essex initiates coverage on Palantir with an Overweight rating and a $262 price target, implying ~32% upside ahead of Q3 earnings.
U.S. investment bank JPMorgan Chase & Co. initiated coverage on AI software company Palantir Technologies Inc. (NASDAQ: PLTR) on October 29, 2026. Analyst Brian Essex assigned an 'Overweight' rating and set a 12-month price target of $262.
This target implies approximately 31.98% upside from Palantir's recent trading levels. Essex cited accelerating operational momentum and renewed demand for artificial intelligence as the basis for the bullish thesis. JPMorgan highlighted that Palantir has achieved 12 consecutive quarters of revenue growth, with the most recent quarter showing a 93% year-over-year increase to $1.93 billion.
The initiation comes just before Palantir's scheduled third-quarter earnings report on November 2, 2026. Other institutions, including Barclays and Oppenheimer, have recently reiterated buy ratings or raised price targets for the stock. According to TipRanks, the average 12-month price target among 25 Wall Street analysts surveyed over the past three months stands at $218.95.