AeroVironment initiated with an Outperform at Citizens JMP

Citizens JMP initiated coverage of AeroVironment (AVAV) with an Outperform rating and $325 price target The firm says the company is a leader in its core markets of un-crewed aircraft systems, loitering munition systems, un-crewed ground vehicles, cybersecurity solutions, high-altitude pseudo-satellites. It views the U.S. government’s priorities, budget allocations, and new procurement mindset serve as tailwinds for AeroVironment.