“Unless another analyst starts selling…”

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Morgan Stanley initiated reporting on Palantir Technologies Inc. (NYSE:PLTR) with an Underweight rating and a $60 price target on Monday, prompting CNBC Jim Cramer to predict a subsequent surge in purchases in response.

What happened: “Unless another analyst starts selling, I think we will see the buying in Palantir around 3:30 a.m.,” Cramer wrote on X, formerly Twitter.

Premarket trading on Nasdaq typically occurs from 4:00 a.m. to 9:30 a.m. Eastern Time.

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Morgan Stanley’s rating comes from an analyst’s perspective Sanjit Singh is taking over coverage following the company’s temporary ratings suspension in November. Although Singh acknowledged Palantir’s strong performance in the U.S. commercial and government sectors, he expressed concerns about the stock’s valuation after its 350% rise in 2024.

“To put it bluntly, when leadership teams and decision makers want to quickly bring their AI initiative into the live production environment, Palantir is one of the select few partners to call,” Singh noted, pointing out that the stock is trading at 80 is traded at a % premium compared to high-growth software competitors.

The data analytics company led by the CEO Alex Karphas seen its shares rise nearly 350% over the past year, closing at $75.92 on Monday. However, analysts’ current price targets vary widely, ranging from $80 at UBS to Wolfe ReseAccording to data from Benzinga Pro, Arch costs $7.5.

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Why it matters: The differing views on Palantir’s valuation are due to growing interest from prominent investors. Recently, Cramer described the company as a “protective intellectual blanket” for its investing club portfolio and highlighted its appeal in the artificial intelligence space.

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