Gogo Q4 2023: Focus On The Service Business (Rating Upgrade)

Franco Ercolino I am revisiting my previous analysis of Gogo, Inc. (NASDAQ:GOGO), in light of Q4 and full-year 2023 earnings. In my Q3 analysis, I rated Gogo a buy with a price target of $18.70. My buy rating was supported by the following:  The subscription business continued to succeed, setting record revenue in the quarter and expanding margins Demographic trends were heavily in Gogo's favor DCF analysis at the mid-point of guidance showed a significant upside based on underlying industry trends  Sin ...