AeroVironment price target raised to $106 from $105 at Canaccord

Canaccord analyst Austin Moeller raised the firm’s price target on AeroVironment to $106 from $105 and keeps a Buy rating on the shares. The analyst said Q2 revenues missed his estimates due to an unfavorable mix and an impact on gross margins from $4m in amortization of intangibles but the company raised its 2023 top-line guidance on accelerating demand for both the Puma Small UAS and the Switchblade 300 and 600 loitering munitions.