Citi initiates coverage of Planet Labs with “buy” rating
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Citi has initiated coverage of Planet Labs with a "buy/high risk" rating and a $19 price target. The stock rose over 40% this week following strong earnings and the company's focus on integrating AI with its core business. Citi analysts highlight the potential for AI to enhance Planet Labs' offerings, attracting customers like NATO and the U.S. DoW. Retail trading interest has also increased, with a spike in call options activity.
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