Stifel analyst Jonathan Siegmann initiated coverage of AeroVironment (AVAV) with a Buy rating and $240 price target as part of a broader research note on Defense names. The firm also calls the stock its Best Idea in New Defense Tech. The company is a leader in loitering munitions with its Switchblade missile system, while its BlueHalo acquisition provides AeroVironment with exposure to other key areas, the analyst tells investors in a research note. Stifel believes that the company will see a “steep ramp” in sales and EBITDA.
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