AeroVironment: Ukraine Burden Only Short-Term – Pullback is Buying Opportunity
Revenues from Ukraine are expected to drop this year from 38% to 17%
Jefferies sees a 40% chance at $190 (Buy)
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AeroVironment (AVAV) remains one of my favorites among defense stocks for several reasons, and the sell-off following a disappointing outlook presents a buying opportunity: Drones are cost-effective and are prioritized by the U.S. and its allies in defense budgets. The MacCready Works segment is making significant strides in new autonomous loitering munitions for cost-effective mass production. The Switchblade and JUMP 20 drones have once again received record orders, and international interest is increasing. The U.S. Army secured the largest...
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