Jefferies Raises Price Target on AeroVironment (AVAV),

Jefferies is reiterating its Hold rating on shares of AeroVironment (NASDAQ: AVAV) while raising its price target by $1 to $29.

The company hosted an investor and analyst event in New York on July 13 were it reiterated its view of the business and made no changes to its FY12 guidance.

The firm reports, "We believe AVAV’s portfolio is maturing, and the company has achieved both program and market diversification. We believe the company’s shares are adequately valued and reflect its sustainable 10-12% earnings growth in the near-term. We maintain our HOLD rating."

Jefferies current 2012 estimates call for EPS of $1.40, revenue of $360 million and EBITDA of $57 million.

For more ratings news on AeroVironment click here and for the rating history of AeroVironment click here.

Shares of AeroVironment closed at $32.58 yesterday.

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