AeroVironment announced it has secured a five-year Indefinite Delivery, Indefinite Quantity (IDIQ) contract valued at $874.26M from the U.S. Army Contracting Command.

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Piper Sandler initiated coverage of AeroVironment with an Overweight rating, saying the drone-technology company is evolving into a diversified defense platform positioned for “multi-year, outsized growth.”

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