Needham analyst Austin Bohlig initiated coverage of AeroVironment (AVAV) with a Buy rating and $300 price target The domestic unmanned aerial systems market is entering a multi-year supercycle and AeroViroment is “uniquely positioned to see industry leading growth” given continued share gains, increasing manufacturing capacity and a portfolio “strongly aligned with the unprecedented global defense spending initiatives,” the analyst tells investors. The firm believes the company has “evolved into a leading next-generation defense prime” following its acquisition of BlueHalo, the analyst added.
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