AeroVironment price target lowered to $215 from $230 at RBC Capital

RBC Capital analyst Ken Herbert lowered the firm’s price target on AeroVironment to $215 from $230 but keeps an Outperform rating on the shares. The company posted strong Q1 results, with growth being led by the LMS segment where revenues were up 68%, the analyst tells investors in a research note. AeroVironment also called out an initial $128M award under the $1B IDIQ recently awarded to the company, and while its maintained FY25 guidance was “a surprise”, the management continued to call out several incremental opportunities, the firm added.