Morgan Stanley assigned a new analyst to cover hot artificial intelligence stock Palantir Technologies, and the Wall Street firm joined the ranks forecasting worse times ahead for the stock.

Palantir shares, which added around $150 billion in market value last year, were a standout performer in the data analytics and AI-tech space as investors bet on the profit potent

Newly minted highs of nearly $85 per share will be far in the rearview mirror as Palantir strikes its way towards a price target of $100 and then $125. All thanks to Wall Steet’s shift to being buyers of the stock. As always, the simplest trade here is a buy and hold strategy.

Singh noted that the company had become "a top partner" when it comes to fast AI projects, and he also credited Palntir with "strong execution and momentum." But the analyst believes that the stock