Raymond James Lifts AeroVironment, Inc. (AVAV)'s Price Target To $348, Maintains Strong Buy Rating

AeroVironment, Inc. (NASDAQ:AVAV) is among the 11 Best Military Drone Stocks to Buy According to Hedge Funds. On September 29, Raymond James analyst Brian Gesuale lifted the stock’s price target to $348 from $300 while maintaining a Strong Buy rating for its shares.

The firm described the company’s investor day during the week (September 30), in which it was also to unveil the ‘new AV’, as a positive catalyst. Moreover, Gesuale told analysts in a research note that Raymond James anticipates AeroVironment, Inc. (NASDAQ:AVAV) will lay out a plan to double its revenue by 2030.

On October 1, Jefferies analyst Greg Konrad also hiked the stock’s price target to $365 from $320 and maintained a Buy rating on its shares, following the investor open house. The firm said AeroVironment, Inc. (NASDAQ:AVAV) was well placed to benefit from “a once in a generational shift”, given the under-investment in defense by America and its allies over the past 15 years.

AeroVironment, Inc. (NASDAQ:AVAV) designs and manufactures unmanned aerial vehicles, ground robot systems, and loitering munition systems. The stock has surged 125% YTD, as of the close on October 1.

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.

READ NEXT: 10 Best Money Making Stocks to Invest In and Renaissance Technologies Portfolio: 10 Biggest Stocks 

Disclosure: None.