Canaccord Slashes AeroVironment Target From $400 to $330 but Holds Buy — Here’s What That Contradiction Means
Quick Read AeroVironment (AVAV) trades at $228, down 10.67% over the past week. Canaccord cut its target from $400 to $330, consensus is $359.29, and the company posted Q2 non-GAAP EPS of $0.44 vs $0.74 estimate following the $4.1B BlueHalo acquisition. The Pentagon opened the SCAR phased array antenna program to competitive bidding, reducing revenue visibility for BlueHalo and pressuring margins as AeroVironment integrates the acquisition. The analyst who called NVIDIA in 2010 just named his top 10 ...