Citizens lowered the firm’s price target on AeroVironment (AVAV) to $350 from $400 and keeps an Outperform rating on the shares. The company reported “challenged” fiscal Q3 results, impacted by revenue timing and adjustments within the space business, the analyst tells investors in a research note. Citizens continues to like AeroVironment as an opportunity for long-term capital appreciation, citing its favorable tailwinds in U.S. and global defense priorities.
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