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Fly News Breaks for June 11, 2019
AVAV
Jun 11, 2019 | 12:49 EDT
Piper Jaffray analyst Troy Jensen maintained a Neutral rating and $74 target on AeroVironment after it acquired Pulse Aerospace. Jensen believes the company paid "roughly 2x sales" to acquire Pulse and he views the acquisition "favorably as it complements AeroVironment's current offering and is expected to be accretive to future earnings." However, the analyst kept a Neutral rating on AeroVironment as he feels the consensus estimates for FY20 are too high.
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