Early Bird Capital Maintains Buy on Aerovironment Ahead of 2Q12 Earnings

Early Bird Capital has published a research report on Aerovironment AVAV ahead of the company's 2Q12 earnings release, scheduled for Tuesday, December 6 after market close. In the report, Early Bird Capital writes, "We forecast F2Q12E EPS of $0.21 ($0.20 consensus) on revenue of $73.3 million ($75.0 million consensus). As we are in-line with consensus expectations we don't expect much in the way of surprises. Additionally, at the end of October, AVAV announced that it introduced the first small UAS for the public safety market. This is the initial step to adding law enforcement customers, a potentially new market. Certainly new markets/customers is very exciting as it speaks well of AVAV's future." Early Bird Capital maintains its Buy rating and $36 price target on Aerovironment, which is currently trading up $1.42 from Friday's $28.80 closing price.