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HSBC downgrades Palantir Technologies to hold from buy.
HSBC downgraded Palantir's rating to hold and cut its price target to $151.
KEY POINTS
- HSBC cites agentic AI frameworks and MCP servers as eroding Palantir's barriers to entry.
- Competitors like OpenAI are adopting Palantir's embedded engineer approach, increasing competitive pressure.
- Anthropic's growing revenues are contributing to shrinking opportunities for Palantir in the AI software space.
- Last quarter's strong Palantir results failed to produce a share price rally, signaling potential downside risk.
COMPANIES
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