Gogo price target lowered to $19.50 from $22.50 at Roth MKM

Roth MKM lowered the firm’s price target on Gogo to $19.50 from $22.50 and keeps a Buy rating on the shares after its Q2 results and guidance cut. Strong new activations underlie healthy demand in a 30% penetrated market, but subscription suspensions due to routine maintenance, secondary aircraft sales and a second 5G chip delay have pushed out near-term expectations for Total ATG aircraft online, or AOL, the analyst tells investors in a research note.