Fly News Breaks for August 13, 2019
Aug 13, 2019 | 08:12 EDT
Jefferies analyst Kyle McNealy says meetings with Boingo Wireless CFO Peter Hovenier reinforced his view that the shares remain "significantly undervalued" at current levels. The analyst sees a "number of positive drivers," including distributed antenna systems remaining a "growth engine," recurring revenue expansion, and emerging multifamily opportunities. He believes the negative share sentiment will reverse as management executes and Boingo moves forward with its transition to a more self-funded model. McNealy keeps a Buy rating on the shares with a $31 price target.
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