Palantir jumps; Pentagon to adopt co's Maven AI targeting system

Palantir Technologies PLTR.N shares climbing 4.5% to $157.50 on Mon after Reuters exclusively reported late Fri the Pentagon will make its Maven AI system an official program of record

Move will lock in long-term use and funding for PLTR's weapons-targeting technology across the U.S. military, streamlining its adoption and providing stable funding, per a letter reviewed by Reuters

Maven AI system analyzes battlefield data from various sources to help identify targets for military strikes, but the co says humans remain responsible for final lethal decisions

Piper Sandler, which rates PLTR 'overweight', says adoption signals the Pentagon's intention "to deploy Maven is growing and will likely be a staple of the command-and-control infrastructure for a long-time to come"

PLTR shares, which hit over two-week high on Mon, rising alongside broader market rally after President Trump postpones military strikes on Iranian power plants .N

At close on Fri, PLTR shares had gained about 10% since the beginning of the war against Iran

With move on the session, stock down ~12% YTD, underperforming Nasdaq's .IXIC ~5% fall

Avg rating of 29 analysts is "buy"; median PT of $199 implies ~26% upside to current levels, per LSEG data