Citi raised the firm’s price target on Planet Labs (PL) to $5 from $4.05 and keeps a Buy rating on the shares. The company reported revenue growth lower than consensus, but margins improved due to lower customer acquisition costs, the analyst tells investors in a research note. Citi expects Planet Labs’ revenue growth to improve in the next four quarters and remains constructive on the name due to revenue growth potential and the continued effort by the company to increase gross margins.
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