Canaccord Genuity Reiterates Buy Rating on AeroVironment (AVAV)
Get Alerts AVAV Hot Sheet
Rating Summary:
8 Buy, 10 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Canaccord Genuity analyst Ken Herbert reiterated a Buy rating and $80.00 price target on AeroVironment (NASDAQ: AVAV) following the company's 1Q earnings report. AVAV reported revenues of $86.9M, beating consensus by ~2%. Adjusted EPS of $0.74 was substantially better than expected (compared to consensus of $0.36). Herbert believes the strong Q1/20 results provide greater confidence in the full year outlook.
The company’s funded backlog strength and solid first quarter results provide backlog visibility on 75% of the full year topline guidance midpoint ($270M of $360M expected), as of the first quarter, up from visibility of 55% in Q1/19.
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 $52.76 yesterday.
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