UPDATE: Benchmark Company Reiterates Buy Rating, Lowers PT on AeroVironment on Potential Miss

In a report published Friday, Benchmark Company reiterated its Buy rating on AeroVironment

, but lowered its price target to $30.00. Benchmark Company noted, “Potential miss in Q3 or Q4 due to government delays. AeroVironment is scheduled to report its Q3FY13 on Tuesday March 5 after the close. The call is at 4:30 PM EST. We think the company will likely report an in-line or weaker than expected quarter, and could potentially lower its Q4 outlook due to government delays. Q3 consensus sales and EPS estimates are $89 million and $0.37. Management reaffirmed its FY13 guidance in early December of $348 million-$370 million (7%-14% y/y growth) in sales and $1.41-$1.51 in EPS. However, the company saw contract delays in Q2 that pushed some planned revenue into Q4.” AeroVironment closed on Thursday at $22.28.