AeroVironment Upgraded to Market Perform by Raymond James, Shares Gain 4%

Raymond James upgraded AeroVironment (NASDAQ: AVAV) to Market Perform from Underperform, with shares rising more than 4% intra-day Monday following the move. The upgrade came after the stock declined approximately 35% since early March, significantly underperforming the S&P 500, which fell about 5% over the same period. The firm also noted that the company’s next twelve months EBITDA multiple compressed from roughly 34x to about 28x. Additionally, the analyst pointed to meaningful downward revisions to cons ...