11 Best Military Drone Stocks to Buy According to Hedge Funds

Page 2 of 10

9. AeroVironment, Inc. (NASDAQ:AVAV)

Number of Hedge Fund Holders: 31

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.

Page 2 of 10