Needham keeps a Buy rating and $450 price target on AeroVironment (AVAV) after its Q2 results. The government shutdown negatively impacted revenues by about $20M, which drove a modest earnings miss in the quarter, but the overall demand remained robust with a record $1.4B in bookings, the analyst tells investors in a research note. With more than $10B in unmanned funding from the One Big Beautiful Bill set to be deployed in the coming quarters, AeroVironment is well positioned to secure sizable new contract awards that will continue to drive outperformance to numbers in the back half of FY26 and into FY27 as the unmanned supercycle ramps, the firm added.
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