AeroVironment (NASDAQ: AVAV) is a hot buy in September due to its strong position in the defense industry, recent acquisition of Blue Halo, and positive sentiment from analysts. Analyst coverage has increased by over 100%, with 100% of analysts rating the stock as a Buy and a price target trend indicating potential record high levels.

The price target trend for AeroVironment is robust, with a consensus forecasting a 25% upside and high-end target set at $335. This represents nearly 50% upside from current levels and could lead to setting new record highs. Institutional activity shows strong support, with over 85% of the stock owned by institutions.

AeroVironment reported triple-digit growth driven by the completion of the Blue Halo acquisition, despite some weaknesses in the margin. The ongoing business grew by 16%, with Autonomous Systems showing strong growth potential. The company forecasts 140% growth for the year and earnings of $3.65, better than consensus forecasts.

After its Q1 earnings release, AeroVironment confirmed its upward trend in stock price, with market action stabilizing and potential for reaching $275 before the end of Q3. The outlook for government spending and the company’s momentum suggest continued growth. MarketBeat offers insights on top analyst recommendations for stock picks.

Read more at Nasdaq.: AeroVironment Is a Hot Buy With a Double-Digit Upside