Planet Labs price target raised to $29 from $22 at Clear Street

Clear Street raised the firm’s price target on Planet Labs (PL) to $29 from $22 and keeps a Buy rating on the shares. The company’s Sweden contract “merely scratches the surface of the underlying opportunity,” the analyst tells investors in a research note. The firm believes Planet Labs is positioned for sustained 20%-plus revenue growth and “considerable” margin expansion given its proprietary satellite imagery and integrated machine learning capabilities. It cites better growth visibility for the target boost.