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Planet Labs initiated with an Outperform at JMP Securities
The Fly

Planet Labs initiated with an Outperform at JMP Securities

JMP Securities analyst Trevor Walsh initiated coverage of Planet Labs with an Outperform rating and $5.50 price target. Planet is a U.S.-based earth observation company that specializes in providing high-resolution satellite imagery to customers around the world, the analyst tells investors in a research note. The company has a fleet of over 200 satellites which form the infrastructure for a "scalable, one-to-many, software-like business model," says the firm. JMP likes Planet’s "robust" imagery archives that create a "technical competitive moat" and says it is still nascent in its growth trajectory.

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