UPDATE: Cowen Downgrades Gogo (GOGO) to Market Perform
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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."
Shares of Gogo closed at $9.06 yesterday.
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