Planet Labs PBC (NYSE: PL) shares rose 22.1% following new defense contracts. The company secured several defense-related deals within the European Union.
Planet Labs also released the first images from its Pelican satellite launch. This milestone included data from Sweden’s first sovereign satellite.
Wedbush raised its price target for the stock from $40.00 to $50.00. New Street Research downgraded the stock to a strong sell.