Why Shares of AeroVironment Are Climbing Today

Shares of AeroVironment (NASDAQ: AVAV) closed up 9.8% on Thursday after the drone maker received an analyst upgrade following a strong quarter. The stock is up 27% year to date, but Wall Street believes there is further room to soar.

AeroVironment makes small drones and tactical missile systems for government and commercial customers. Earlier in the week, the company delivered better-than-expected fiscal fourth-quarter earnings, and Wall Street has taken notice. The company was upgraded to a buy from a hold by Stifel on Thursday, with the price target jumping to $90 from $55.

Image source: AeroVironment.

Continue reading

Source Fool.com