Cantor Fitzgerald analyst Colin Canfield initiated coverage of AeroVironment (AVAV) with an Overweight rating and $335 price target Cantor views price appreciation as a multiyear journey, led by the continued growth of Group 1-3 drones, as well as significant expansion of munitions and air defense capabilities, the analyst tells investors in a research note. The firm is constructive regarding AeroVironment’s recent Blue Halo acquisition and thinks ramping programs across munitions, counter UAS, directed energy, as well as stable services growth take pressure off the capital allocation process.
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