UPDATE: Morgan Stanley Downgrades Gogo (GOGO) to Underweight

(Updated - October 6, 2021 4:22 AM EDT)

Morgan Stanley analyst Simon Flannery downgraded Gogo (NASDAQ: GOGO) from Equalweight to Underweight with a price target of $14.00 (from $13.00).

The analyst comments "As the dominant private jet IFC provider, Gogo is benefiting from strong industry tailwinds with shares up >75% ytd. However, we see the competitive landscape shifting over the next year, likely pressuring valuation and FCF. Downgrade to Underweight with $14 PT, representing ~20% downside."

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 $17.15 yesterday.

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