Canaccord analyst Ken Herbert upgraded AeroVironment to Buy from Hold and raised his price target to $86 from $84, saying that while investors continue to struggle with fiscal 2020 visibility, he is encouraged by many of the recent announcements and potential opportunity in high-altitude pseudo-satellites, tactile missile systems and the international unmanned aircraft systems market. While AeroVironment would like to be viewed relative to a broader set of tech peers, the comparison to other small-cap defense growth stocks supports upside to the stock, Herbert tells investors in a research note, adding that potential M&A would be a positive catalyst as well.