Baird Downgrades AeroVironment (AVAV) to Neutral Following Upward Move in Stock

Baird analyst Peter Arment downgraded AeroVironment (NASDAQ: AVAV) from Outperform to Neutral with a price target of $161.00.

The analyst commented, "We are downgrading AVAV to Neutral, following an aggressive upwards move in the stock since 3Q24 results which we highlighted as a Bullish Fresh Pick on February 12 (Link to Note), with ~41% gain YTD and ~94% in the past 12 months vs. the S&P 500 up only 8% YTD and 29% in the past 12 months. While we remain bullish on backlog growth in 2024 with Replicator, LASSO, and large FMS on Switchblade 600 yet to be awarded, we believe the AVAV stock is currently fully valued."

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 $177.67 yesterday.

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