UPDATE: Cowen Downgrades Gogo (GOGO) to Market Perform

September 9, 2020 5:33 AM EDT
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Price: $12.90 --0%

Rating Summary:
    2 Buy, 8 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 6 | New: 11
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(Updated - September 9, 2020 6:17 AM EDT)

(updating comment)

Cowen analyst Lance Vitanz downgraded Gogo (NASDAQ: GOGO) from Outperform to Market Perform with a price target of $10.00.

The analyst comments "Gogo's announced sale of CA for $400 mil and corresponding debt repayment / conversion is perhaps the best possible outcome amid COVID-19. Its remaining BA segment is a terrific asset that should generate strong and growing cash flow for years. Our PT moves to $10, but with its stock up ~3x in 2 weeks, we move to a Market Perform rating."

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 $9.06 yesterday.

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