Gogo Inc. (NASDAQ: GOGO) shares surged 5.73% in pre-market trading on Monday, following a positive analyst report from Roth MKM. The in-flight broadband provider's stock price movement comes after analyst Scott Searle reiterated a Buy rating on the company with a price target of $16.50.
The bullish stance from Roth MKM suggests confidence in Gogo's business model and growth prospects. While specific details of the analyst's report were not provided, the maintained Buy rating and the substantial price target indicate a positive outlook for the company's future performance in the in-flight connectivity market.
The timing of the analyst report, released on Sunday, appears to have sparked investor enthusiasm in Monday's pre-market session. As traders digest the positive sentiment from a respected financial firm, Gogo's stock has seen a significant uptick, reflecting renewed interest and optimism about the company's potential in the evolving aviation technology sector.
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