Planet Labs price target raised to $7 from $4 at Benchmark

Benchmark raised the firm’s price target on Planet Labs (PL) to $7 from $4 and keeps a Buy rating on the shares. Commercial space economy names have enjoyed a post-election rally, but valuations for the group vary, notes the analyst, who sees Planet “entering an interesting stage” given that the company is entering EBITDA break-even, has “consistently controlled costs/burn,” and the new contracting flow being seen by the company.