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.

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

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 AeroVironment, Inc. (NASDAQ:AVAV) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVAV and that has 100x upside potential, check out our report about the cheapest AI stock.

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