Analyst Justifies Premium Price Target For Planet Labs On Robust Imagery Archive And Expanding Market Opportunity
Portfolio Pulse from Shivani Kumaresan
JMP Securities analyst Trevor Walsh reiterated a Market Perform rating on Planet Labs (NYSE:PL) with a price target of $5.50, justifying the premium due to the company's robust imagery archive, expanding market opportunity, and strong positioning. Despite recent challenges, the analyst remains positive on Planet Labs due to its attractive valuations, resilient satellite fleet, and diversified revenues.

June 23, 2023 | 5:55 pm
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JMP Securities analyst Trevor Walsh reiterated a Market Perform rating on Planet Labs with a price target of $5.50, citing the company's robust imagery archive, expanding market opportunity, and strong positioning.
The analyst's reiteration of a Market Perform rating and a price target of $5.50 for Planet Labs is based on the company's strong positioning, robust imagery archive, and expanding market opportunity. Despite recent challenges, the analyst remains positive on the company due to its attractive valuations, resilient satellite fleet, and diversified revenues. However, the stock is currently trading lower, which may indicate that the market has not yet fully absorbed the analyst's positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100