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Stock impact report

Planet Labs (PL) Hits New All-Time High as Morgan Stanley Hikes PT by 344% [Yahoo! Finance]

Planet Labs PBC Class A (PL) 
Company Research Source: Yahoo! Finance
Planet Labs extended gains to a third day on Friday to hit another all-time high as investors took path from an investment firm's higher price target for its stock, alongside an upbeat outlook for its business. At intra-day trading, Planet Labs PBC (NYSE:PL) surged to its highest price of $19.10 before trimming gains to finish the day just up by 4.41 percent at $18.24 apiece. Copyright: lexaarts / 123RF Stock Photo In a market report, Morgan Stanley issued a price target of $20 for the company, marking a 344 percent jump from its previous target of $4.50. The new figure marked a 9.7 percent upside potential from its latest closing price. The investment firm also maintained an “equal weight” rating for the stock. According to Morgan Stanley, the revision reflected Planet Labs PBC's (NYSE:PL) earnings performance in the third quarter of the year, during which revenues jumped by 32.4 percent to $81.2 million from $61.3 million in the same period last year, beating its earlier Show less Read more
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