AeroVironment price target lowered to $400 from $440 at RBC Capital

RBC Capital lowered the firm’s price target on AeroVironment (AVAV) to $400 from $440 and keeps an Outperform rating on the shares ahead of its Q2 results on Tuesday. The focus for investors will be on the organic growth and bookings – potentially impacted by the government shutdown – and adjusted EBITDA margins, with the company expected to sound very confident on its revenue outlook and its position to benefit from several secular tailwinds, the analyst tells investors in a research note. Results will be a positive catalyst after the stock’s recent under-performance, but consensus is still ahead of guidance, the firm added.