Gogo (GOGO) PT Raised to $23 at Cowen

October 1, 2021 9:00 AM EDT
Get Alerts GOGO Hot Sheet
Price: $15.77 -0.63%

Rating Summary:
    2 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 13 | New: 62
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Cowen analyst Lance Vitanz raised the price target on Gogo (NASDAQ: GOGO) to $23.00 (from $15.00) while maintaining a Outperform rating.

The analyst commented, "Yesterday BTO, Gogo discussed at length its significantly increased LT financial targets for sales growth, EBITDA margin, and FCF, driven by ongoing record equipment sales that should drive growth in high-margin service revs through at least 2025. Our revised estimates suggests Gogo shares could be worth $27-30 by early 2024; we discount back at a high-teens hurdle rate to arrive at our $23 PT."

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