As previously reported, William Blair downgraded Gogo (GOGO) to Market Perform from Outperform, citing intensifying competition from Elon Musk’s Starlink with the rollout of Starlink service to commercial aircraft, as well as Gogo’s elevated net debt position and the expectation that Air-to-Ground net additions will likely be under pressure for the next several quarters as Gogo completes its migration from Classic systems to AVANCE.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOGO: