Benchmark Raises Price Target on AeroVironment (AVAV) Followign Q4 Earnings

Benchmark is reiterating its Buy rating on shares of AeroVironment (NASDAQ: AVAV) and is raising its price target from $34 to $38 following its Q4 earnings.

The company reported its Q4 results with $106 million in revenue and EPS of $0.79, which was ahead of the streets estimates of $99.16 million and $0.70.

FY11 revenue grew 17 percent topping expectations with UAS experiencing 11 percent growth and EES experiencing 69 percent growth.

For more ratings news on AeroVironment click here and for the rating history of AeroVironment click here.

Shares of AeroVironment closed at $28.61 yesterday.

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