Citi stays bullish on gold, hikes price 3-month outlook to $2,800 per ounce By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 21 2024
0mins
Source: Investing.com
Gold and Silver Price Forecasts: Citi Research has raised its three-month gold price forecast to $2,800 per ounce and its six to twelve-month forecast to $3,000, while also increasing the silver price forecast to $40 per ounce. This is attributed to potential U.S. labor market issues, interest rate cuts, and geopolitical uncertainties.
Market Trends and Geopolitical Factors: Gold reached a record high and silver hit a near 12-year peak amid concerns over the U.S. presidential election and Middle East tensions, with Citi remaining neutral-bullish on platinum and bearish on palladium in light of recent price movements.
Analyst Views on PL
Wall Street analysts forecast PL stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PL is 18.93 USD with a low forecast of 12.30 USD and a high forecast of 22.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 26.060
Low
12.30
Averages
18.93
High
22.00
Current: 26.060
Low
12.30
Averages
18.93
High
22.00
About PL
Planet Labs PBC is a provider of global, daily satellite imagery and geospatial solutions. It designs, builds, and operates the earth observation fleet of imaging satellites. It provides mission-critical data, advanced insights, and software solutions comprising agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to derive value from satellite imagery. Its satellite data and analytics reveal actionable insights regarding phenomena, such as deforestation, agriculture, climate change, biodiversity, and supply chains worldwide. Its daily stream of proprietary data and machine learning analytics, delivered over its cloud-native platform, helps companies, governments and civil society use satellite imagery to discover insights as change happens. Its digital technology platform includes Agile Aerospace, Proprietary Big Data, and Platform and Analytics. Its products include Planet Monitoring, Planet Tasking, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
