William Blair analyst Louie DiPalma has reiterated their bullish stance on GOGO stock, giving a Buy rating yesterday.
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Louie DiPalma has given his Buy rating due to a combination of factors including Gogo’s recent strong financial performance and strategic developments. The company reported impressive revenue and EBITDA figures, which have positively influenced investor sentiment, leading to a significant increase in the stock’s trading price. Additionally, Gogo’s progress in achieving synergy savings and the potential for further cost reductions contribute to a positive outlook.
Moreover, the anticipated launch of Galileo and the potential introduction of 5G technology are expected to enhance Gogo’s competitive position against rivals like SpaceX. The company’s management also projects substantial free cash flow improvements as investments taper off, which could further boost the stock’s value. These elements combined support DiPalma’s optimistic view and the Buy rating for Gogo’s stock.
According to TipRanks, DiPalma is an analyst with an average return of -13.9% and a 56.30% success rate. DiPalma covers the Technology sector, focusing on stocks such as Palantir Technologies, Motorola Solutions, and Parsons.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $16.50 price target.