Gogo price target lowered to $14 from $16 at Northland

Northland lowered the firm’s price target on Gogo to $14 from $16 and keeps a Market Perform rating on the shares after the company reported Q2 results that were negatively impacted by record growth in suspensions and deactivations. Gogo reduced its 2023 revenue outlook to reflect the higher suspensions and 5G network launch delay, the analyst noted.