AeroVironment price target lowered to $305 from $390 at Jefferies

Jefferies lowered the firm’s price target on AeroVironment (AVAV) to $305 from $390 and keeps a Buy rating on the shares. Q3 was a “bit messy” as the termination of the SCAR program and push out of awards created an ever further Q4 weighted year with Q3 up only 6% on a PF basis, the analyst tells investors in a research note. The firm noted that the positive is AeroVironment tracking to 98% visibility to a revised full year and a roughly $544M exit rate as the business gets back on track with potential for substantial FY27 growth without SCAR contribution.