To The Moon

Morgan Stanley assigned a new analyst to cover hot artificial intelligence stock Palantir Technologies, and the Wall Street firm joined the ranks forecasting worse times ahead for the stock.Sanjit Singh assumed lead coverage of Palantir and slapped an underweight rating and $60 price target on the company. The firm previously had an underweight rating until November, when it removed its rating for the company to re-evaluate the company.None of the analysts who follow the company, according to FactSet, have a target price above Friday's close of $79.89. The closest is Dan Ives of Wedbush Securities with a $75 target; the lowest is $11, courtesy of RBC Capital Markets' Rishi Jaluria.Morgan Stanley's Singh acknowledges that the Alex Karp-led company has gotten a lot of things right, with its U.S. commercial business accelerating and its government business re-accelerating, all while the company maintained expense discipline."To put it bluntly, if executive management teams and decision m

Morgan Stanley assigned a new analyst to cover hot artificial intelligence stock Palantir Technologies, and the Wall Street firm joined the ranks forecasting worse times ahead for the stock.Sanjit Singh assumed lead coverage of Palantir and slapped an underweight rating and $60 price target on the company. The firm previously had an underweight rating until November, when it removed its rating for the company to re-evaluate the company.None of the analysts who follow the company, according to FactSet, have a target price above Friday's close of $79.89. The closest is Dan Ives of Wedbush Securities with a $75 target; the lowest is $11, courtesy of RBC Capital Markets' Rishi Jaluria.Morgan Stanley's Singh acknowledges that the Alex Karp-led company has gotten a lot of things right, with its U.S. commercial business accelerating and its government business re-accelerating, all while the company maintained expense discipline."To put it bluntly, if executive management teams and decision m