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JPMorgan Bullish On Gogo After Strong Business Trends

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By Sam Boughedda

Investing.com — JPMorgan analyst Philip Cusick told investors in a research note on Monday that they are "more favorable" today than they have been for some time on Gogo Inc (NASDAQ:GOGO) shares.

Cusic said that Gogo, an inflight internet company, is seeing strength in business trends, and that the company's management is looking to return capital to shareholders through buybacks or dividends following the company's 5G build.

"There is a strong tailwind of activity," from the pandemic that has seen increased demand for new aircraft heading into next year, explained the analyst who kept a neutral rating and $16 price target on the stock after a meeting with Gogo's management.

Gogo shares are down around 0.8% to $13.38 Monday.

It is the second time in the last few months that the JPMorgan analyst has provided bullish commentary on Gogo shares after upgrading the stock to Neutral in October, telling investors he liked the company's improving outlook.

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