AeroVironment price target raised to $300 from $275 at RBC Capital

RBC Capital raised the firm’s price target on AeroVironment (AVAV) to $300 from $275 and keeps an Outperform rating on the shares after hosting meetings with its management team, with investor focus falling on its top-line outlook. AeroVironment believes a positive inflection in terms of its defense market is taking place, and the total addressable market growth should support multiple suppliers, even as competition is increasing, especially in the loitering munition market, the analyst tells investors in a research note.