Roth Capital Positive on Gogo (GOGO) Noting Global Broadband Annoucement Extends Growth Horizon
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Roth Capital analyst Scott W. Searle reiterated a Buy rating and $24.00 price target on Gogo (NASDAQ: GOGO).
The analyst comments "GOGO announced its global broadband partnership with the fully funded OneWeb. The relationship will add global next-gen LEO broadband capabilities to GOGO’s 5G ATG capabilities in North America. This expands the addressable BA TAM by ~14k aircraft and is likely to launch in the 2025 time frame. We view the announcement as extremely positive as it extends to addressable BA aircraft TAM by 50%+ and provides a key growth driver in the back half of the decade. Buy."
Shares of Gogo closed at $18.01 yesterday.
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