Jefferies Lifts Price Target on AeroVironment (AVAV) Following Q4

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Jefferies boosted its price target on AeroVironment (NASDAQ: AVAV) from $25 to $28 following Q4 Revenues of $111MM vs. their estimate of $111MM and $106MM a year ago. They maintained their Hold rating.

The firm comments, "Although the threat of Sequestration and Austerity measures have created an overhang, new product adoption and expansion of the customer base should allow AVAV to grow the franchise."

The firm raised FY13 EPS from $1.25 to $1.45.

For an analyst ratings summary and ratings history on AeroVironment click here. For more ratings news on AeroVironment click here.

Shares of AeroVironment closed at $25.44 yesterday, with a 52 week range of $21.14-$36.49.

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