Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of drone designer AeroVironment
So what: Goldman Sachs analyst Noah Poponak upgraded AeroVironment from neutral to buy and boosted his price target for the stock from $32 to $38. Poponak noted that while the overall defense sector may be challenged right now, the funding for unmanned aircraft is strong and growing. The analyst also suggested that AeroVironment could be a buyout target for a larger defense contractor, specifically calling out Boeing
Now what: For those who are already bullish on AeroVironment -- including my fellow Fools at Motley Fool Rule Breakers -- the bullish assessment is no doubt a welcome confirming view. For those on the sidelines who have been keeping an eye on the stock, this could be a good reason to tune back into the story to see whether there's good reason to be a buyer. However, it's important to remember that Poponak's take is just one analyst's view and by itself isn't much of a thesis for joining the excitement today and slapping the buy button.
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Fool contributor Matt Koppenheffer has no financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter, @KoppTheFool, or on Facebook. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.