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Fly News Breaks for February 23, 2018
GOGO
Feb 23, 2018 | 06:32 EDT
JPMorgan analyst Philip Cusick downgraded Gogo to Neutral and cut his price target for the shares to $10 from $17. The stock closed yesterday down 13% to $9.13. The company yesterday reported "solid" Q4 results, but the "sof"t EBITDA growth guidance is a surprise, Cusick tells investors in a post-earnings research note. He believes shares will be "challenged" in 2018 given the "rapid pace" of American Airlines de-installs and the flat to down average monthly service revenue per aircraft.
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