Goldman Sachs Remains Neutral On AeroVironment

According to Goldman Sachs, AeroVironment

reported a solid F4Q beat, provided initial FY2012 guidance above consensus, and reiterated a bullish long-term outlook on most programs. Goldman Sachs said that it remains Neutral on AVAV. “We raise our FY12/FY13E EPS to $1.30/$1.50 from $1.28/$1.35 on higher margins and introduce FY14E of $1.60. We raise our 12-month price target to $32 from $30 as a result of higher estimates.” AeroVironment closed yesterday at $35.45.