Bank of America just raised its price target on Palantir to $215 per share.

Over the last three years, Palantir Technologies ( PLTR 1.98% ) has emerged as one of the most polarizing artificial intelligence (AI) stocks on Wall Street.

Skeptics often point to Palantir's soaring valuation, arguing that its stock price has raced beyond acceptable levels of fundamentals. Bulls, however, counter that the company's accelerating adoption across government and enterprise customers justifies further upside.

Just this week, equity research analyst Mariana Perez Mora of Bank of America raised her price target on Palantir to $215 -- implying 20% upside from current trading levels as of Sept. 25.

In this analysis, I'll break down Mora's argument and compare it to another recent eyebrow-ra

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