Needham raised the firm’s price target on Planet Labs (PL) to $12 from $8 and keeps a Buy rating on the shares. The company reported strong Q2 results and guided Q3 and second-half revenue above consensus, the analyst tells investors in a research note. The management also noted several major wins and renewals, including for Maritime Domain Awareness, while Defense & Intelligence segment sales continued to outperform, with International leading the charge, the firm added.
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