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JPMorgan Bullish On Gogo After Strong Business Trends -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — JPMorgan analyst Philip Cusick told investors in a research note on Monday that they are “more favorable” today than they have been for some time on Gogo Inc (NASDAQ:) shares. 

Cusic stated that Gogo (an inflight internet business) is experiencing strength in the market trends and that management of the company is seeking to return capital through buybacks, dividends, or other means following its 5G upgrade. 

The analyst explained that “there is a strong trailwind of activity” from the pandemic, which saw increased demand for new planes heading into next years. He maintained a Neutral rating on the stock and a $16 price target after meeting with Gogo’s managers.

Gogo shares were down 0.8% to $13.38 on Monday.

This is the second consecutive bullish comment that JPMorgan analysts have made on Gogo shares in the past few months. He upgraded the stock from Neutral to Neutral last October. Investors were told by him that he enjoyed the company’s improvement outlook.

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