Gogo price target lowered to $12 from $15 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Gogo to $12 from $15 and keeps an Equal Weight rating on the shares. The delayed rollout of the company’s 5G offering raises uncertainty around how quickly Gogo can ramp up customer migration to the upgraded service once launched, while long-term competitive pressure from LEO operators such as Starlink is likely to limit upside, the analyst tells investors.