Planet Labs price target raised to $20 from $4.50 at Morgan Stanley

Morgan Stanley analyst Kristine Liwag raised the firm’s price target on Planet Labs (PL) to $20 from $4.50 and keeps an Equal Weight rating on the shares. A fiscal Q3 beat and raise, citing strong Defense and Intelligence traction, early satellite services contributions and momentum across multi-year programs support the company’s strategic shift, the analyst tells investors.