AeroVironment price target lowered to $315 from $389 at Stifel

Stifel lowered the firm’s price target on AeroVironment (AVAV) to $315 from $389 and keeps a Buy rating on the shares. Fiscal Q3 “showcased strong organic growth,” albeit below expectations as results were impacted by timing and adjustments in the Space business, the analyst tells investors. While the SCAR contract endgame has been “more disappointing and drives a downgrade to estimates,” it should “at least be in the rearview mirror” and this will be a pivotal quarter for AeroVironment to re-establish momentum, the analyst added.