AeroVironment Stock Is Flying Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
AeroVironment Inc's (NASDAQ:AVAV) shares are trading higher after reporting better-than-expected Q1 results and issuing strong guidance. The company reported revenues of $152.3 million, up 40% YoY, and earnings of $1 per share, beating estimates. The company also announced the acquisition of Tomahawk Robotics, expected to close in Q2. Following the results, Baird analyst Peter Arment upgraded AeroVironment from Neutral to Outperform and raised the price target from $95 to $128.
September 06, 2023 | 1:24 pm
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POSITIVE IMPACT
AeroVironment's strong Q1 results and acquisition of Tomahawk Robotics have led to an upgrade from Baird analyst and a rise in stock price.
AeroVironment's better-than-expected Q1 results and strong guidance, along with the acquisition of Tomahawk Robotics, have positively impacted the company's stock. This is further reinforced by Baird analyst's upgrade from Neutral to Outperform and a raised price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100