AeroVironment shares rise as JPM initiates at overweight, cites growth runway

AeroVironment AVAV.O shares up 2.6% pre market after J.P.Morgan initiates at overweight with a $320 PT

JPM calls the recent drop a buying opportunity

Sees mid-teens growth driven by drones, counter-UAS and space units

Brokerage highlights co's 55‑year track record and established customer relationships as advantages as the Pentagon seeks nimble, commercially oriented supplier

Expects growth from the BlueHalo acquisition, which adds space and directed-energy capabilities, including phased‑array antennas and laser systems

JPM's PT implies ~31% upside from the $243.87 close

Military drone maker has gained about 1% YTD compared with a 3% fall in the Nasdaq .IXIC

The avg rating of 18 analysts covering the stock is 'buy' and their median PT is $390.50