Benchmark reiterated its Buy rating on AeroVironment AVAV. At the same time, Benchmark raised its price target on the company's stock from $34 to $38.
In a research report published today, Benchmark states, "We are increasing
our FY12 revenue and EPS to $328 million and $1.32, respectively, from $315
million and $1.24. We increase our price target from $34 to $38, representing a
12x FY12 EV/EBITDA multiple, and reiterate our BUY."
On Tuesday, AeroVironment lost 0.03% of its value to finish the day at $28.61. Its shares skyrocketed in today's pre-market trading, however, surging 12.76% to $32.26.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsAerospace & DefenseAeroVironmentBenchmarkIndustrials
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