Planet Labs price target raised to $28 from $17 at Northland

Northland analyst Michael Latimore raised the firm’s price target on Planet Labs (PL) to $28 from $17 and keeps an Outperform rating on the shares after the company announced its third “low 9-figure” deal in a year. Countries are increasingly interested in having their own satellite constellations, and Planet is winning those deals, the analyst tells investors.