BUZZ-AeroVironment shares rise as JPM initiates at overweight, cites growth runway

Reuters02-17
BUZZ-AeroVironment shares rise as <a href="https://laohu8.com/S/JPM">JPM</a> initiates at overweight, cites growth runway

** AeroVironment AVAV.O shares up 2.6% pre market after J.P.Morgan initiates at overweight with a $320 PT

** JPM calls the recent drop a buying opportunity

** Sees mid-teens growth driven by drones, counter-UAS and space units

** Brokerage highlights co's 55‑year track record and established customer relationships as advantages as the Pentagon seeks nimble, commercially oriented supplier

** Expects growth from the BlueHalo acquisition, which adds space and directed-energy capabilities, including phased‑array antennas and laser systems

** JPM's PT implies ~31% upside from the $243.87 close

** Military drone maker has gained about 1% YTD compared with a 3% fall in the Nasdaq .IXIC

** The avg rating of 18 analysts covering the stock is 'buy' and their median PT is $390.50

(Reporting by Rashika Singh in Bengaluru)

((Rashika.Singh@thomsonreuters.com;))

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