Key TakeawaysFreedom Capital’s analyst boosted PLTR’s price target from $170 to $230, suggesting approximately 70% potential gainThe company exceeded Q1 projections and consensus estimates; leadership upgraded 2026 full-year guidanceDefense contract demand has reached levels where Palantir now turns down certain commercial opportunitiesCEO Alex Karp met with President Zelenskyy in Kyiv to enhance the “Brave1 Dataroom” AI initiativeConsensus Street target for PLTR stands at $188.31, indicating 38% potential upside from present trading levelsFollowing an impressive first quarter performance, Palantir continues to attract bullish sentiment from analysts. Freedom Capital’s Almas Almaganbetov has elevated his price target for PLTR from $170 to $230 while maintaining his Buy recommendation. This revised target suggests approximately 70% upside potential based on current trading levels.Palantir Technologies Inc., PLTRThe target adjustment followed Palantir’s first quarter performance, which surpassed both internal projections and analyst consensus. Company leadership subsequently increased their full-year 2026 projections across several critical performance indicators.Almaganbetov revised his revenue and adjusted free cash flow projections upward for the 2026-2028 period in response to these results.Defense Sector Momentum Reshapes Business PrioritiesA remarkable aspect of Palantir’s Q1 performance was the robust growth in its government division. The company’s national security and defense solutions have experienced such overwhelming demand that management is now declining certain commercial opportunities to focus resources on government implementation projects.This strategic pivot represents an unusual approach for software companies, most of which eagerly pursue commercial contracts. The decision underscores Palantir’s deep integration into critical defense and intelligence operations.The analyst highlighted Palantir’s AIP platform as maintaining a significant competitive advantage in the enterprise AI landscape, despite growing competition across the sector.High-Stakes Meeting Between Karp and ZelenskyyThe government narrative gained additional prominence on May 12 when CEO Alex Karp traveled to Kyiv for a meeting with Ukrainian President Volodymyr Zelenskyy. The visit underscored Ukraine’s deepening reliance on Palantir’s technology in its ongoing conflict with Russia.Ukraine is collaborating with Palantir on an initiative named “Brave1 Dataroom,” which leverages battlefield data accumulated since Russia’s 2022 full-scale invasion to create AI models. The primary objective centers on identifying and neutralizing Russian drone threats.According to Ukrainian Defence Minister Mykhailo Fedorov, over 100 companies are currently developing more than 80 models focused on aerial target identification within this broader initiative.Fedorov explained that through the Palantir collaboration, Ukraine developed sophisticated systems for comprehensive air strike analysis, deployed AI solutions for processing massive intelligence datasets, and embedded these capabilities into strategic strike operations.“Palantir is a renowned global company with strong potential, and there certainly are areas where we can be useful to one another,” Zelenskyy wrote on X following the meeting.Yet skepticism persists among some analysts regarding the stock’s valuation after its extended upward trajectory. Critics contend the current price has become disconnected from fundamentals. The Street’s consensus target of $188.31 implies 38% appreciation potential — substantial, but considerably more conservative than Almaganbetov’s $230 projection.The valuation debate surrounding Palantir will likely persist, though recent Q1 results and the Kyiv summit have provided additional ammunition for optimistic investors.The post Palantir (PLTR) Stock Gets $230 Price Target Despite Valuation Concerns appeared first on Blockonomi.