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Fly News Breaks for October 13, 2016
AVAV
Oct 13, 2016 | 07:40 EDT
Canaccord analyst Ken Herbert assumed coverage on AeroVironment with a Hold rating as he sees near-term risk to the 2017 outlook considering the lower level of current year sales in the backlog. He also cites timing risk from the continuing resolution and passage of the 2017 Defense budget, as well as FMS approvals from the upcoming elections. Herbert lowered the firm's price target to $27 from $28 on AeroVironment shares.
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