Jefferies resumes coverage of Aevex with 'buy' rating after BlackSea acquisition
AVEX•Jefferies resumes coverage at buy
Jefferies resumes coverage of defense firm Aevex AVEX.N at "buy" with $26 PT.
Says acquisition of naval defense company BlackSea adds "scaled portfolio of unmanned surface and subsea vessels and expands AVEX's position in multi-domain autonomy".
"We believe expanding demand across launched effects, precision strike, and maritime autonomy supports continued growth, margin upside, and re-rating potential with shares at about 50% discount to peers" - Jefferies.
Broker outlook and recent share performance
9 out of 10 brokerages rate the stock "buy" or higher, 1 "hold"; their median PT is $34 - LSEG-compiled data.
Up to last close, AVEX is down nearly 31% since its April debut.
