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Citi has upgraded Palantir Technologies from 'Neutral' to 'Buy,' raising its price target to $235 due to increased adoption of its AI platform and significant government contracts. In Q3 2025, Palantir reported a 63% year-over-year revenue growth to $1.18 billion, with U.S. commercial business expanding by 121% and a total contract value of $2.8 billion, including a notable $448 million deal with the U.S.

Navy. The company has also raised its full-year revenue guidance to $4.4 billion, projecting over 104% growth in U.S. commercial revenue.