Deutsche began coverage Monday of a pair of satellite imagery ventures, saying the space stocks have potential for 'growth similar to software companies.'
Deutsche began coverage Monday of a pair of satellite imagery ventures, saying the space stocks have potential for "growth similar to software companies." The firm issued buy ratings for Planet and BlackSky , with Deutsche analyst Edison Yu noting that both companies are "generating substantial revenue now." Planet is both selling to the "widest range of customers" while also having "a best-in-class management team," Yu said.
[and] Its highly recurring revenue profile should eventually command a valuation premium," Yu wrote. Deutsche noted that "BlackSky has been more inconsistent operationally," but the company's software and "lucrative" government contracts "ultimately make it an attractive strategic target given the current depressed valuation.
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