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.
Published first on TheFly
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