Baird upgraded AeroVironment to Outperform from Neutral with a price target of $220, up from $161. The record $990M SwitchBlade contract awarded yesterday “locks in visibility” for the loitering munition product through 2029, the analyst tells investors in a research note. The firm says the five-year contract from the U.S. Army will enable significant inventory levels of the SwitchBlade product. It is now modeling significant more growth for the SwitchBlade product.