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Fly News Breaks for October 1, 2019
DAL, VSAT, GOGO
Oct 1, 2019 | 08:42 EDT
Morgan Stanley analyst Simon Flannery said the possibility of Delta (DAL) launching a free Wi-Fi offering has been viewed by some as a significant positive catalyst for Gogo (GOGO), helping the latter's shares gain about 60% since early August. The firm's North American Airlines analyst contends that "free Wi-Fi is a matter when and not if" for the industry, but Flannery is skeptical of Gogo's ability to drive value as a satellite reseller under this model. As take rates potentially triple, Gogo would need to buy significantly more satellite capacity, which could significantly hurt margins, contends Flannery. Meanwhile, ViaSat (VSAT) has noted it has multiple gigabits of Ka capacity available over Delta hubs like Atlanta and this could be an opportunity for them to take share as they have proven capabilities and cheaper Ka capacity compared to Gogo as a Ku reseller, the analyst tells investors. Flannery reiterates his Underweight rating and $3 price target on Gogo shares and has an Equal Weight rating with an $82 price target on ViaSat.
News For GOGO;VSAT;DAL From the Last 2 Days
DAL
Jan 14, 2021 | 10:16 EST
Says demand at these hubs have only recovered to 20%-25% of pre-Covid levels.
DAL
Jan 14, 2021 | 09:53 EST
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FuelCell (FCEL) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster citing valuation. 2. Urban Outfitters (URBN) downgraded to Underweight from Neutral at JPMorgan with analyst Matthew Boss saying weaker store traffic constrained the holiday performance. 3. Penn National (PENN) downgraded to Sell from Hold at Loop Capital with analyst Daniel Adam saying the stock has outperformed over the past year with a rise of about 300% on investors' hope that the company can successfully capitalize on the growing online gaming opportunity in the U.S., but the magnitude is likely unwarranted. 4. Ollie's Bargain Outlet (OLLI) double-downgraded to Underperform from Buy at BofA with analyst Jason Haas saying he is increasingly concerned with the "sourcing environment", stating that his recent industry research suggests that the availability of closeout merchandise is lower than expected. 5. Delta Air Lines (DAL) downgraded to Neutral from Positive at Susquehanna with analyst Christopher Stathoulopoulos saying Delta remains "best-in-class among the network carriers," but he sees better risk-reward in shares of Southwest (LUV) and Alaska Air (ALK) given Delta's international exposure and business traffic. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DAL
Jan 14, 2021 | 08:54 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Chembio Diagnostics... To see the rest of the story go to thefly.com. See Story Here
DAL
Jan 14, 2021 | 07:31 EST
Sees Q1 liquidity $18B-$19B; Adjusted net debt ~$18B.
DAL
Jan 14, 2021 | 07:26 EST
As previously reported, Susquehanna analyst Christopher Stathoulopoulos downgraded Delta Air Lines (DAL) to Neutral from Positive with a price target of $45, up from $42. While Delta remains "best-in-class among the network carriers," the stock is up about 30% since the Friday before the wave of vaccine announcements and he sees better risk-reward in shares of Southwest (LUV) and Alaska Air (ALK) given Delta's international exposure and business traffic, Stathoulopoulos tells investors.
DAL
Jan 14, 2021 | 07:19 EST
Susquehanna analyst Christopher Stathoulopoulos downgraded Delta Air Lines to Neutral from Positive.