BofA Securities Cautiously Positive on AeroVironment (AVAV): 'memo will likely spur increased competition from new and emerging commercial players.'

BofA Securities analyst Ronald Epstein initiates coverage on AeroVironment (NASDAQ: AVAV) with a Buy rating and a price target of $300.00.

The analyst comments "While we see clear upside for AVAV from DoW “drone dominance” initiatives, we think the memo will likely spur increased competition from new and emerging commercial players. The memo encourages the DoW fast-track additions to the Defense Innovation Unit’s (DIU) Blue List (a list of commercial and bespoke DoW-approved UAS, components, and software). Though new competition is likely, we see AVAV’s technology suite, success of the Switchblade in Ukraine, and production capacity as key differentiators to maintaining and growing their market share."

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 $272.07 yesterday.

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