Planet Labs rises after Needham lifts PT

Planet Labs PBC

20/10/2025 11:37

** Shares of satellite imagery firm Planet Labs PL.N rise nearly 6% to about $13.9 in premarket trading

** Needham raises co's PT to $16 from $12, representing a 22% upside on stock's last close

** Says co will invest capex more aggressively in service upgrades via its new satellite fleets to benefit from rising global defense budgets

** "PL is focused on accelerating growth and improving profitability with new market opportunities, supported by upgraded satellite constellations and new satellite services business models," brokerage says

** Eight of 10 brokerages rate the stock "buy" or higher and two "hold"; their median PT is $11.5 - data compiled by LSEG

** As of last close, shares up about 224.5% YTD

 (Reporting by Parth Chandna)

 ((Parth.Chandna@thomsonreuters.com))