KeyBanc analyst Michael Leshock initiated coverage of AeroVironment (AVAV) with an Overweight rating and $285 price target The firm is positive on the company’s strong leverage to defense tech and space growth, differentiated product portfolio, industry-leading margin, competitive moat from defense backlog and BlueHalo acquisition, and expansion into advanced cUAS/interceptors, the analyst tells investors in a research note. The stock’s premium valuation is justified by its position as a high-quality defense tech leader, strong macro backdrop, and idiosyncratic growth drivers, the firm added.
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