AeroVironment price target lowered to $315 from $335 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on AeroVironment (AVAV) to $315 from $335 and keeps an Overweight rating on the shares. AeroVironment is likely to trade lower in the near term after missing Street EBITDA and free cash flow expectations, though the pullback may be brief, the analyst tlels investors in a research note. While estimates may still need further resetting, strong budget tailwinds in drones, directed energy, and laser communications support a favorable medium-term setup, provided cash flow concerns and fears of large-scale M&A unwind do not escalate, the firm adds.