ER

Summary * There are a number of indicators that collectively suggest PLTR could durably reaccelerate growth during the next quarters. * Based on an in-depth valuation analysis, we think PLTR's stock is currently trading at the lower end of the fair value range. * We discuss the possible terminal revenue level for the Department of Defense as PLTR pursues the ambition of becoming the first software prime contractor. * Additionally, we discuss PLTR's key advantage in operationalizing LLMs for