Planet Labs (PL) PT Raised to $10 at Northland

Northland analyst Michael Latimore raised the price target on Planet Labs (NYSE: PL) to $10.00 (from $8.00) while maintaining a Outperform rating.

The analyst comments "Planet posted 20% growth (two quarters ahead of plan) and upside in 2Q26. Sees FCF positive for year, a year ahead of plan. NTM backlog coverage is 86% vs 81% in 1Q26, and 53% a year ago. Large deal pipeline is strong and maturing. Unique AI opportunities are emerging. Increasing our estimates and target to $10 from $8."

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