NEW YORK, April 18 (Reuters) - Drone-maker AeroVironment Inc is poised for growth, helped by its new, non-military technologies, financial weekly Barron's said in its April 19 edition.
Barron's said that AeroVironment shares, which closed at $25.11 on Friday, could rise 20 percent this year.
Shares in the company, which makes unmanned aircraft systems for military use, have been volatile over the past two years hit by worries about the Pentagon's purchases. They have fallen around 25 percent over the past three months.
AeroVironment has recently won a contract for its power adapter for electric cars, which Barron's said bolsters the company's 'peacetime potential'.
Alex Hamilton, an analyst at C.K. Cooper, was quoted as saying the current share price doesn't reflect the company's growth potential.
(Reporting by Ritsuko Ando; Editing by Bernard Orr) Keywords: AEROVIRONMENT/ (ritsuko.ando@thomsonreuters.com; +1 646 223 6084; Reuters Messaging: ritsuko.ando.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Barron's said that AeroVironment shares, which closed at $25.11 on Friday, could rise 20 percent this year.
Shares in the company, which makes unmanned aircraft systems for military use, have been volatile over the past two years hit by worries about the Pentagon's purchases. They have fallen around 25 percent over the past three months.
AeroVironment has recently won a contract for its power adapter for electric cars, which Barron's said bolsters the company's 'peacetime potential'.
Alex Hamilton, an analyst at C.K. Cooper, was quoted as saying the current share price doesn't reflect the company's growth potential.
(Reporting by Ritsuko Ando; Editing by Bernard Orr) Keywords: AEROVIRONMENT/ (ritsuko.ando@thomsonreuters.com; +1 646 223 6084; Reuters Messaging: ritsuko.ando.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.