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Australia
Palantir Expected to Deliver Robust Q1, Led by Growing Demand for AIP, Wedbush Says
Palantir (PLTR) is expected to deliver a robust Q1, led by the growing use-cases for its artificial intelligence platform as demand accelerates across both government and commercial fronts, Wedbush Securities said Wednesday, adding that PLTR remains on the Ives AI 30 list.Wedbush believes Palantir has the potential to reach a trillion-dollar market cap in the next few years as the AI Revolution unfolds.The Street's top-line estimate of $1.54 billion seems beatable, as US commercial revenue is expected to grow beyond the 139% growth seen in Q4, supported by AIP and the Street underestimating Palantir's commercial efforts, the brokerage said.Wedbush said Palantir's Q1 bottom-line expectation of $870 million to $874 million seems achievable, despite significant investments into the product pipeline, elite technical hiring and AIP.Palantir has also signed several 9-figure contracts with multiple federal government agencies, pointing to increased adoption of its tech across the government landscape, according to the note.The company is set to report Q1 results on Monday after the bell.Wedbush maintained an outperform rating on Palantir with a $230 price target.Price: $136.81, Change: $-4.37, Percent Change: -3.10%
$PLTR
Mining & Metals
RBC Reiterates Methanex's Sector-Perform Rating, US$65.00 Price Target
RBC Capital Markets on Wednesday maintained its sector-perform rating on the shares of Methanex (MX.TO, MEOH) and its US$65.00 price target.Methanex recently released its non-discounted methanol reference prices for May, outlining a 19% increase to $1,480 per tonne for North America and unchanged at $740/mt for Asia Pacific, excluding China.RBC believes the reference prices will have a modestly positive impact on the shares of Methanex, as it implies that the realized methanol price for May will likely be higher than April.Methanex is expected to release its first-quarter results after market close on Wednesday, where investors may focus on management's comments relating to the methanol supply/demand/pricing dynamics particularly in Asia.Investors are also expected to focus on management's update on the outlook for its New Zealand operations.Price: $87.11, Change: $+4.41, Percent Change: +5.33%
$MEOH$MX.TO
Australia
Market Chatter: IBM to Add 750 AI, Quantum Computing Jobs in Chicago
International Business Machines (IBM) plans to add 750 jobs over the next five years focused at the Illinois Quantum and Microelectronics Park in Chicago, Bloomberg reported Wednesday, citing a joint statement by the company and Illinois Governor JB Pritzker.The positions will be focused on artificial intelligence, quantum computing, cybersecurity and data science, the report said.IBM, which will get $19 million from a sate tax-credit program, will also establish the FutureNow Chicago center at the hub, according to the report.IBM didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $230.48, Change: $-2.57, Percent Change: -1.10%
$IBM