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Stifel says 'too soon' to upgrade AeroVironment.

After AeroVironment reported Q3 revenue that was slightly above consensus and "well ahead" of Stifel analyst Joseph DeNardi's $54M estimate, he said he was surprised to see the stock down about 10% in after-hours trading. However, he attributed that post-report reaction to what was perceived as a weak backlog figure for Q3. That view, though, misses the $45M Puma order announced in conjunction with the report and a "very strong" pipeline of opportunities, said DeNardi, who thinks it is too soon to upgrade the stock but came away from the company's earnings call "more bullish than bearish." He maintains a Hold rating and $45 price target on AeroVironment shares.

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Publication:The Fly
Date:Mar 7, 2018
Words:109
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