AeroVironment (AVAV) Earnings Preview, Canaccord Genuity Sees a Positive Catalyst
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Canaccord Genuity analyst Ken Herbert reiterated a Buy rating and $140.00 price target on AeroVironment (NASDAQ: AVAV) ahead of fiscal Q3/21 earnings on Tuesday, March 9th after market close.
The analyst stated "we anticipate key discussion topics to include the financial impact of recent acquisitions, the ongoing purchase of Switchblade loitering munitions by the Pentagon using previously unspent FY20 outlays, and the outlook for defense sales under the Biden Administration. While the stock is up ~19% YTD, it is down ~25% off its early-February peak. The underperformance has been consistent with other small-cap growth stocks. We believe the fiscal Q3/21 results will be a positive catalyst for the stock".
Shares of AeroVironment closed at $102.54 yesterday.
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