Gogo price target lowered to $7 from $8 at Morgan Stanley

Morgan Stanley analyst Justin Lang lowered the firm’s price target on Gogo (GOGO) to $7 from $8 and keeps an Equal Weight rating on the shares. With shares sitting near 52-week lows, the firm thinks investor concerns over legacy ATG customer churn have overshadowed green shoots associated with Gogo’s refreshed product lineup, the analyst says. Investors will need more proof points moving through the year to get constructive, the analyst added.