Roth Capital Positive on Gogo (GOGO) Noting Global Broadband Annoucement Extends Growth Horizon

May 23, 2022 8:01 AM EDT
Get Alerts GOGO Hot Sheet
Price: $12.90 --0%

Rating Summary:
    2 Buy, 8 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 10 | New: 15
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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."

For an analyst ratings summary and ratings history on Gogo click here. For more ratings news on Gogo click here.

Shares of Gogo closed at $18.01 yesterday.

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