Imperial Capital Adjusts EBITDA Estimates For Global Eagle Entertainment

In a report published Tuesday, Imperial Capital analyst Bob McAdoo reiterated an Outperform rating and $22.00 price target on

. In the report, Imperial Capital noted, "We are maintaining our Outperform rating and our one-year price target of $22 on shares of ENT. While the company remains largely in its infancy, new contracts and other corporate announcements suggest Global Eagle continues to make meaningful progress in developing a leading inflight connectivity and content business. The company was initially created approximately two years ago through the combination of Row 44, an inflight connectivity platform, with Advanced Inflight Alliance, a leading content provider. "We believe additional signs of progress, including new connectivity and content agreements, should drive earnings growth and share appreciation over time. Earnings projections and valuation methodology should become more meaningful as time passes and the company develops. Our price target represents 64% potential upside from recent trading levels." Global Eagle Entertainment closed on Monday at $13.40.