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- Roth Capital analyst Scott Searle has reiterated a Buy rating and a price target of $16 on Gogo Inc GOGO, implying a 48.4% upside.
- Concerns around start-up competitor Smartsky has largely overshadowed Core Business Aviation fundamentals, Searle points.
- Through the first two weeks of July, flights are up 30% versus the comparable 2019 period, he adds.
- Searle expects this strength to translate to a slight Q2 upside and continued growth into the second half of 2021.
- With strong demand, modest market penetration assumptions, and 5G on the horizon, he would use weakness as a buying opportunity.
- Price action: GOGO shares traded lower by 3.06% at $10.45 on the last check Thursday.
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