The Newmarket trainer does not intend giving the three-year-old many more races this season as he already has one eye on 2019.
Formula One only made his racecourse debut in mid-July when he shaped encouragingly to finish second over a mile and a quarter at Newcastle before going one better three weeks later in a 12-furlong novice event at Ffos Las.
“I was delighted with that. He’s a very big horse and I think he’ll only get better as time goes on,” said Palmer.
“We were nicely pleased with him first time out and he suggested at home that he had come on for his first run and I think he will keep improving.
“They went very slowly at Ffos Las, but he did stay on very well. The race happened to be over a mile and a half, but I think we might come back to a mile and a quarter.
“He’s a horse we’re going to keep for next year and so we won’t look to run him too many times this year because he’s still immature and unfurnished.
“I hope that if we are patient with him, we will be rewarded.
“We’ve seen Coolmore consistently producing top-class horses by Galileo out of very fast mares.
“This horse is by Galileo’s best son (Frankel) out of a very fast mare (Wizz Kid), so I hope with the time we have given him, he will continue to improve and reward his owners’ patience.
“He has to run in another novice next.”