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UPDATE: Sterne Agee Upgrades AeroVironment to Neutral

Related AVAV
Earnings Scheduled For September 3, 2014
Can Drone-Maker AeroVironment Compete In A Civilian Environment?

In a report published Wednesday, Sterne Agee Group upgraded its rating on AeroVironment (NASDAQ: AVAV) from Underperform to Neutral.

Sterne Agee noted, “We are upgrading AVAV to Neutral from Underperform as the its several ‘irons in the fire' are creating new contracting opportunities. 2Q13 results beat expectations as the majority of an international order fell in 2Q13 instead of 3Q13. AVAV reiterated FY13 guidance for which 79% is identified. Further, a $1 billion UAS RFP is expected to be awarded in a few months. AVAV remains in solid position given its historical dominance of the UAS market, especially with the acquisition of Tier II UAS.”

AeroVironment closed on Tuesday at $20.26.

Latest Ratings for AVAV

DateFirmActionFromTo
Jul 2014JefferiesMaintainsHold
Jun 2014BenchmarkDowngradesBuyHold
Mar 2014CRT CapitalMaintainsFair Value

View More Analyst Ratings for AVAV
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Upgrades Analyst Ratings

 

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