Stifel analyst Jonathan Siegmann raised the firm’s price target on AeroVironment (AVAV) to $295 from $240 and keeps a Buy rating on the shares. The firm cites the company’s new $650M debt and $875M equity financing for the target increase. Stifel says that while the market may focus initially on the dilution, it remains “excited” about AeroVironment’s opportunity to invest in its core markets. The company’s technologies are positioned to benefit from the Department of Defense’s shifting requirements, the analyst tells investors in a research note.
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