2023-04-18 07:04:11 ET
Deutsche Bank reiterated a bullish view on Planet Labs PBC ( NYSE: PL ) on Tuesday after attending the Planet's Explore 2023 conference last week in Washington D.C.
Analyst Edison Yu said the main takeaway from the conference was that Planet Lab's ( PL ) ecosystem is truly unique in its ability to enable wide adoption of Earth Observation data which paves a long runway for robust growth.
"Planet not only collects imagery with its 200-satellite constellation but cleans and fuses this data with other types to make it easier to derive actionable insights. Through these insights, governments and corporations can significantly increase their monitoring capabilities and operational efficiency, saving money and time."
Deutsche Bank has a Buy rating on Planet Labs ( PL ) and price target of $6.00 to rep 38% upside potential for the Earth imaging stock.
Seeking Alpha analyst Felix Fung recommended Planet Labs ( PL ) last month when shares were sitting below $4.00. "The company's latest earnings continued to show strong top line growth alongside improved profitability," he noted.
Shares of Planet Labs ( PL ) moved up 1.61% premarket on Tuesday to $4.43.
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Planet Labs earns high marks from Deutsche Bank from conference presentation