Planet Labs price target raised to $20 from $8.50 at Cantor Fitzgerald

Cantor Fitzgerald analyst Colin Canfield raised the firm’s price target on Planet Labs (PL) to $20 from $8.50 and keeps an Overweight rating on the shares. The firm is materially more constructive on Planet Labs after attending their Investor Day event, the analyst tells investors in a research note. Cantor thinks management defined “long-term” Investor Day targets are conservative and that near-term underperformance makes for a meaningful opportunity to get exposure to one of the best growth and catalyst pathways in Space.