Craig-Hallum Downgrades Planet Labs to Hold, Announces $3 Price Target
Portfolio Pulse from Benzinga Newsdesk
Craig-Hallum analyst Jeff Van Rhee has downgraded Planet Labs (NYSE:PL) from Buy to Hold and set a price target of $3. This change reflects a more cautious stance on the company's stock.
December 08, 2023 | 1:33 pm
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Planet Labs' stock has been downgraded by Craig-Hallum from Buy to Hold with a price target of $3, indicating a potential pause in upward momentum or a reevaluation of the stock's value.
Downgrades by analysts can lead to a negative short-term reaction in the stock market as they often signal a change in the expected performance of a company. The new price target of $3 set by Craig-Hallum may also suggest a lower expected future stock price, which could influence investors' perception and potentially decrease the stock price in the short term.
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