Shares of Planet Labs PBC (PL) surged 5.27% in Friday's trading session, as the stock rallied following an Overweight rating and a $4.75 price target from Cantor Fitzgerald.
Cantor Fitzgerald initiated coverage on the satellite imaging company with an Overweight rating, citing the company's potential for growth and market leadership in the emerging earth observation data market.
The positive analyst action provided a boost to investor sentiment, driving the stock higher on the day. Planet Labs PBC has been gaining traction with its proprietary satellite imagery and data analytics offerings, which cater to various industries including agriculture, energy, and government sectors.
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