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AEVEX Corp. (AVEX) shares are trading higher on Tuesday, even as the Nasdaq is down 1.06% while the S&P 500 has shed 0.59%.
Investors are reacting to a wave of bullish initiations from major Wall Street firms. These ratings follow the company's initial public offering in April.
Wall Street is showing significant confidence in the defense tech firm. On Tuesday, Needham analyst Austin Bohlig initiated coverage with a buy rating. Bohlig set the street-high price forecast of $45.
Baird analyst Peter Arment also joined the bulls. Arment initiated an outperform rating with a $38 price forecast.
Goldman Sachs analyst Noah Poponak initiated coverage with a buy rating. Poponak set a $34 price forecast for the stock.
Similarly, Ronald Epstein of B of A Securities set a $34 price forecast. Epstein also gave a buy rating to the company. Raymond James analyst Brian Gesuale rounded out the sentiment with an outperform rating and a $35 price forecast, according to market data.
AEVEX is a defense technology company focused on navigation and autonomy, uncrewed systems, and adaptable mission solutions built for modern military needs. It sells into U.S. government and allied customers, including agencies tied to the DoW, SOF, and the intelligence community.
AVEX Price Action: Aevex shares were up 9.14% at $26.64 at the time of publication on Tuesday, according to market data.
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