BUZZ-Stifel cuts AeroVironment's PT on muted growth

AeroVironment, Inc.

AeroVironment, Inc.

AVAV

0.00

** Stifel cuts price target on drone firm AeroVironment AVAV.O to $220 from $315; reiterates "buy" rating

** New PT still represents a 58% premium to stock's last close

** Shares of the company up ~30% at $181 premarket

** Brokerage says FY27 revenue growth guidance of ~10% may appear modest initially, but it includes roughly 5% headwinds each from the cancellation of the Satellite Communications Augmentation Resource (SCAR) program and the expected roll-off of Ukraine-related sales

** Stifel sees muted margin improvement and believes

"dour market mood across defense stocks" makes it unrealistic for the market to focus on estimates beyond next year

** Median PT of 20 brokerages covering the stock is $248 - data compiled by LSEG

** As of last close, AVAV down ~43% YTD


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