Aerovironment (AVAV) is trading higher after reporting better-than-expected 1Q results. Its adjusted EPS came in at $1.00 versus an estimated $0.40 and revenue came in at $152.3M versus an estimated $137.2M. AVAV sees adjusted EPS for FY24 between $2.30-$2.60 versus an estimated $2.60 and revenue between $645M-$675M versus an estimated $655.8M. Baird upgraded the stock to outperform from neutral and raised its price target to $128 from $95. Tune in to find out more about the stock market today.
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