NiseriN/iStock via Getty Images In May 2023, I started coverage for AeroVironment (NASDAQ:AVAV) stock after the company had just been eliminated from the FTUAS (Future Tactical Unmanned Aerial System) program. At the time, I saw the elimination as a risk to sustained growth for the company and combined with the high EV/EBITDA relative to peers, I put a hold rating on AVAV stock. The stock, however, has performed well, gaining 84% vs. a 22.7% return for the broader markets. In July 2023, I accepted the eleva ...