Gogo Inc. (GOGO) shares are soaring 6.83% in intraday trading on Tuesday, following a significant upgrade from Zacks Investment Research. The in-flight internet provider's stock received a boost after Zacks raised its rating to a "Buy," signaling growing confidence in the company's earnings potential.

The upgrade to a Zacks Rank #2 (Buy) reflects an upward trend in earnings estimates, which is considered one of the most powerful forces impacting stock prices. This change in Gogo's earnings outlook could have a favorable impact on its stock price, as institutional investors often use earnings and earnings estimates to calculate a company's fair value.

Analysts have been steadily raising their estimates for Gogo over the past three months, with the Zacks Consensus Estimate for the company increasing by 6.6%. The company is now expected to earn $0.54 per share for the fiscal year ending December 2025, representing a year-over-year growth of 20%. This positive revision in earnings estimates, combined with Gogo's new position in the top 20% of Zacks-covered stocks, suggests that the stock may continue to perform well in the near term.