Prada Nears Approval of Versace Deal Despite Tariffs
Prada SpA is nearing final approval to acquire struggling luxury brand Versace for around €1.25 billion ($1.4 billion) from Capri Holdings Ltd. despite the tariff-induced volatility, according to people familiar with the matter.
The board of the Milanese company, controlled by billionaire designer Miuccia Prada and her husband Patrizio Bertelli, is meeting Wednesday to sign off on the transaction, said the people, who asked not to be identified because talks are private.
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Palantir (PLTR) Target Raised to $140 on Strong AI Momentum
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Yahoo
a day ago
- Yahoo
Palantir (PLTR) Target Raised to $140 on Strong AI Momentum
Palantir Technologies (PLTR, Financials) received a fresh vote of confidence from veteran portfolio manager Chris Versace, who raised his price target on the data analytics company to $140 per share as demand for artificial intelligence tools continues to expand across industries. Palantir has surged 63% year to date after climbing 340% in 2024, fueled by growing adoption of its AI platform, enterprise Foundry suite, and defense-focused Gotham product. The company reported first-quarter revenue of $884 million, up 39% from a year earlier, with net income of $214 million and adjusted earnings per share of 13 cents. CEO Alex Karp said in the Q1 release that U.S. commercial revenue rose 71% year over year, surpassing a $1 billion annual run rate. He described the company as "the operating system for the modern enterprise in the era of AI. Versace cited Palantir's expansion into new verticals, including a recent deal with Bolt Financial to deliver agentic AI-powered retail checkout experiences, as evidence of growing private-sector traction alongside its longstanding government contracts. He said the increasing diversity of use casesfrom banking and biotech to logistics and national securityshould allow Palantir to continue cross-selling and scaling its platform. Full-year guidance calls for 36% top-line growth and 68% growth in U.S. commercial revenue. Versace said the commercial tailwinds support his upgraded $140 target. This article first appeared on GuruFocus. Sign in to access your portfolio
Miami Herald
2 days ago
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