Canaccord Genuity Affirms 'Buy' Rating on AeroVironment (AVAV) on Drone Technology Demand

AeroVironment, Inc. (NASDAQ:AVAV) is one of the top industrial stocks to buy amid easing tariff uncertainties. On August 11, Canaccord Genuity reiterated a ‘Buy’ rating on the stock with a $305 price target.

The research firm’s positive stance reflects growing confidence in the company’s growth prospects, driven by increasing demand for drone technology. The company has carved a niche in providing unmanned aerial vehicles and tactical missile systems for both defense and commercial applications.

Consequently, AeroVironment continues to attract orders from military and civilian sectors. It remains well-positioned to capitalize on the US Pentagon’s push to ramp up drone production and deployment. The company has also inked a strategic partnership with SNC for the development of integrated air and missile defense capabilities to protect critical infrastructure from advanced aerial threats.

AeroVironment, Inc. (NASDAQ:AVAV) is an industrial company that develops and deploys autonomous systems, precision strike systems, and counter-UAS technologies for defense and government customers. Its solutions are used for intelligence, surveillance, and reconnaissance.

While we acknowledge the potential of AVAV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.