Jefferies raised the firm’s price target on AeroVironment to $150 from $130 and keeps a Buy rating on the shares. The firm viewed fiscal Q2 “positively” given accelerating growth and the improved revenue outlook, noting that the “one thing to pick on” would be absence of incremental EBITDA drop through on higher revenue. However, the firm still sees leverage in the business and argues that the valuation “does not appear prohibitive,” the analyst tells investors.
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