UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT on AeroVironment Following Mixed F4Q13 EPS Report, Management Meeting

In a report published Friday, Goldman Sachs analyst Noah Poponak reiterated a Neutral rating on AeroVironment AVAV, but lowered the price target from $20.00 to $18.00. In the report, Goldman Sachs noted, “We remain Neutral on Aerovironment (AVAV) following the company's mixed F4Q13 EPS report and our recent meeting with management. We continue to believe AVAV has a strong product portfolio in end-markets that have significant long-term growth potential (small unmanned and EV charging). But those are also end-markets that face significant near-term uncertainty and lack of visibility and where recent trends have been disappointing. We highlight takeaways from earnings and our meeting with management in this report.” AeroVironment closed on Thursday at $20.14.