Gogo Announces Fourth Quarter and 2023 Results
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JPMorgan Assumes Gogo (GOGO) at Neutral, 'We see limited near term catalysts'
February 29, 2024 5:55 AM ESTJPMorgan analyst Nikhil Aluru assumes coverage on Gogo (NASDAQ: GOGO) with a Neutral rating and a price target of $11.00.
The analyst comments "Gogo reported strong 4Q23 earnings with revenue, EBITDA, and FCF ahead of our estimates but provided soft 2024 guidance on the back of a slower shipment outlook, incremental delays to the 5G launch, the projected mix shift to Galileo, and elevated costs associated to the launch of 5G and Galileo.... More
