Shares of in-flight Internet service provider Gogo Inc. (GOGO) - Get Report were up nearly 2% Wednesday after analysts at Raymond James initiated coverage of the stock with an "outperform" rating and $15 price target. The price target represents a potential 18.5% upside from the stock's closing price on Tuesday.
The firm is bullish on the roll out of the company's 2Ku proprietary satellite solution and the planned upgrades to its ATG network. Despite the positive outlook, Raymond James is forecasting net losses over the next three fiscal years.
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