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Fly News Breaks for March 20, 2019
ENT
Mar 20, 2019 | 08:39 EDT
William Blair analyst Louie DiPalma last night downgraded Global Eagle Entertainment to Underperform from Market Perform. The company has "significant liquidity risk if operations do not improve," DiPalma tells investors in a research note. Further, in the event of asset sales, there is risk that the proceeds would not be sufficient to cover Global Eagle's $774M in gross debt, says the analyst. DiPalma expects the uncertainty to continue to pressure shares. Global Eagle closed yesterday down 13c to $1.17.
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