The Revenant has a couple of lofty entries this autumn, but Palmer will not rush into stepping him up in grade immediately following his highly-promising display in the 32Red.com EBF Novice Stakes.
Recovering from a slow start, The Revenant was soon put in a better position by Pat Cosgrave before making his challenge in the final quarter-mile.
Lengthening in good style, the 11-2 shot led a furlong out and held Global Conqueror by three-quarters of a length.
"It was nice to see him do it like that on his debut, although it doesn't make it easy going forward," said Palmer.
"He's a gorgeous horse, with a pedigree to match, and he's always done things pretty naturally at home, so it was nice to see that converted on the track."
He added: "Where we go next, I don't know. We've either now got to keep him in novice company and carry a penalty, or he's got to go to stakes company which is quite a big ask for him.
"He's got to improve an awful lot on what he's done there, but he couldn't have done it any easier. It was pleasing."
The Revenant was given a quote of 33-1 for the Investec Derby with Paddy Power.
Palmer had earlier struck for the same owners, Al Asayl Bloodstock, with Fibonacci in the 32Red Casino Maiden Stakes.
The 4-7 favourite gave his backers few anxious moments as the three-year-old colt swept past the pacesetting Line Of Beauty a furlong out under James Doyle to score by three and a quarter lengths.
"He's a very big horse and has taken an awful lot of time to come to himself," said the Newmarket trainer.
"The great thing is that the owners are going to keep him in training next year and who knows what he could develop into with another winter on his back."
Trainer Tom Dascombe and jockey Richard Kingscote enjoyed a double with Ginbar and Heaven's Rock.
After three placed efforts, Ginbar (11-8 favourite) got off the mark as the youngster made his experience count with a smooth four-length success in the 32Red ebfstallions.com Novice Stakes.
Heaven's Rock (9-1) led a furlong out and was kept up to his work to hold Trilliant by a half a length in the 32Red.com Handicap.
Donjuan Triumphant (4-1) made all in the 32Red.com EBF Stallions Conditions Stakes to get his head in front for the first time since landing a Group Two at Maisons-Laffitte in October 2015.
Now with Andrew Balding, the four-year-old bowled along enthusiastically for PJ McDonald and had enough in hand to see off Yattwee by a length and a quarter.
Marmajuke Bay (15-2) showed great resolution to outpoint Azari by two lengths in the £20 Free Bet At 32Red.com Handicap.
Steve Drowne took Mark Usher's four-year-old to the front a furlong and the Duke Of Marmalade gelding galloped on strongly to land the spoils.
Take Two (9-2) came from last to first to lead a furlong out and battle on well to defeat Thorntoun Care by a nose in the 32Red Casino Handicap.