GOGO Stock Climbs on UBS Upgrade

Shares of Gogo (GOGO) jumped more than 5% in Monday morning trading after a major investment bank gave the provider of in-air telecommunications services a vote of confidence.

GogoUBS (UBS) has raised its price target for GOGO stock from $23 to $26. UBS also upgraded its rating for GOGO stock from “Neutral” to “Buy,” Seeking Alpha notes.

Last week, GOGO stock rose sharply after the company reported a loss of 20 cents per share during the quarter, less than the loss of between 24 cents and 26 cents per share that Wall Street analysts had forecast. Quarterly revenue surged 35% to $95.7 million.

On Friday, GOGO stock closed at $13.68 per share.

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