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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVAV:
- AeroVironment’s Strong Long-Term Prospects and Improved Guidance Justify Buy Rating Despite Short-Term Challenges
- Closing Bell Movers: GE Vernova up 6% on raised outlook, doubled dividend
- AeroVironment Reports Record Q2 Revenue Growth
- AeroVironment reports Q2 adjusted EPS 44c, consensus 79c
- AeroVironment cuts FY26 EPS view to $3.40-$3.55 from $3.60-$3.70