A Google-backed space stock is up 600% in a year. Here's why it could go even higher.
Planet Labs' stock has surged 588% over the past year, driven by optimism over its government contracts and new satellite technology. Wedbush analyst Dan Ives raised the price target to $28, citing strong demand for its services. The company recently secured a multiyear deal with Sweden's military worth over $500 million, adding to its existing contracts with the U.S. Planet Labs aims to launch advanced satellites capable of delivering AI-analyzed images within an hour. Google, a major investor, is collaborating on Project Suncatcher to develop solar-powered satellite constellations.
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