The Benchmark Co.Reiterates AeroVironment Buy

The Benchmark Company reiterated its AeroVironment

Buy rating in a research report published today. Benchmark has a $38 price target on the company. In the report, Benchmark stated, "Valuation remains compelling based on AV's double-digit, long-term growth prospects from a portfolio of innovative technology solutions at various stages of customer adoption, and its strong balance sheet with $8.95 in cash per share. We also believe AV becomes an attractive industry consolidation acquisition target when the Switchblade or GO moves into production in the coming years." Shares of AeroVironment closed Thursday at $25.85.