13 Best Aerospace and Defense Stocks to Invest in Now

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8. Planet Labs PBC (NYSE:PL)

Analyst Upside Potential: 29.15%

Number of Hedge Fund Holders: 23

Planet Labs PBC (NYSE:PL) is one of the 13 Best Aerospace and Defense Stocks to Invest in Now. On June 23, Cantor Fitzgerald raised the firm’s price target on Planet Labs PBC (NYSE:PL) from $6.30 to $8.50 while keeping an Overweight rating on the stocks. The firm named the company its “Top Pick” in the space sector due to increased confidence in multiple pathways for the company to outperform over the next 12 months.

The analyst highlighted Planet Labs PBC (NYSE:PL)’s promising pipeline of satellite services deals, such as that of JSAT, which are expected to deliver significant benefits. These deals could accelerate the company’s timeline to achieve sustainable free cash flow. Cantor Fitzgerald also sees the company’s Earth Intelligence business to be well positioned to benefit from a multi-year period of global insecurity.

In addition, the firm sees Planet Labs PBC (NYSE:PL)’s emerging satellite services strategy resembles Berkshire Hathaway’s free float strategy. It believes that this allows the company to collect premiums and invest with structurally cheaper capital compared to competitors.

Planet Labs PBC (NYSE:PL) is a leading aerospace and defense company that provides daily satellite and geospatial solutions. It provides mission-critical data, advanced insights, and software solutions to various government and commercial users.

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