Canaccord lowered the firm’s price target on AeroVironment (AVAV) to $400 from $430 and keeps a Buy rating on the shares. The firm recorded a recor Q2 beat on revenues and a funded backlog of roughly $1.1B on record quarterly bookings. Managementadjusted guidance up to $1.98B in revenues at the midpoint and reiterated its midpoint adjusted EBITDA forecast of $310M. The company’s CEO pointed to accelerating international demand as a key driver of short-term and long-term growth.
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