🟢 Planet Labs is trading 5% up today after Berenberg initiated coverage with Buy rating

Planet Labs is trading 4.75% up now at $20.18 after Berenberg initiated coverage with a Buy rating and a $25 price target.

• Berenberg cited accelerating revenue growth, expanding backlog, defense demand, and AI applications for Planet Labs’ satellite archive.
• Investors are positioning ahead of Planet Labs’ September 3 earnings release; expectations center on continued growth and improving profitability.
• The initiation is the clearest company-specific catalyst for the September 2 move; valuation—not demand—is the primary risk.