Deutsche Bank upgraded Palantir Technologies Inc. to Buy from Hold, describing the second‑quarter results as “exceptional” and maintaining a $200 price target that implies roughly 59% upside. Analyst Brad Zelnick said the quarter was strong even by the company’s increasingly anomalous standard and likened Palantir to a “time traveler” that has already arrived in the AI future others are still aspiring towards. Revenue grew 93% year‑over‑year, driven primarily by U.S. Commercial revenue which jumped 149% and by a record total contract value of $2.132 billion, a 153% increase from the prior period. Deutsche Bank highlighted Palantir’s Sovereign AI capabilities and its Artificial Intelligence Platform (AIP), which management describes as an environment where customers can build, deploy and improve AI workflows inside their own security boundary. Zelnick noted AIP is emerging as the control plane for enterprises that want to use the best available models without giving away proprietary data, extending Palantir’s differentiation into AI governance. The bank said Palantir’s financial profile is further separating from the broader software group and should command a premium valuation, with shares trading at about 1.5 times its fiscal 2027 estimate on one metric, supporting the DCF‑derived target and indicating a favorable risk/reward skew.