Stocks are slipping on Wall Street after a big jump last week on hopes for more interest rate cuts from the Federal Reserve.

Rishi Jaluria of RBC Capital Management, a subsidiary of the Royal Bank of Canada, has a $45 price target on Palantir's stock. So the stock still needs to tumble about 70% more to reach his price target. That's a long way to fall for a proven AI leader, but is that a legitimate price target?