Aevex went public recently, and Goldman Sachs thinks investors should scoop it up. The bank initiated coverage of the drone name with a buy rating. Its $34 price target implies 39% upside from Monday’s close. “Aevex is an opportunity to invest in a defense tech company that sells into a rapidly growing end-market, and that has strong profit margins and cash flow on top of high rates of relatively early stage growth,” analyst Noah Poponak said Tuesday in a note to clients. Aevex produces of unmanned aircraft systems, or remote controlled drones and the equipment that supports their operations. The company debuted on the New York Stock Exchange last month, pricing its IPO at $20. Shares are up more than 22% since the IPO. Goldman Sachs was among the underwriters. AVEX mountain 2026-04-16 Aevex is down 9% since its IPO on April 17, 2026. Aevex can outperform going forwaed UAS technology is adopted in the U.S. and abroad, according to Goldman. Last year, President Donald Trump signed an executive order, “Unleashing American Drone Dominance,” calling for accelerating the integration of drone technologies into the National Airspace Program — a move that is widely expected to stimulate the U.S. drone market. More broadly, drone demand for consumer, commercial and defense applications is projected to grow to more than $147 billion by 2036 , according to market intelligence firm IDTechEx. “Unmanned Aerial Systems … have proliferated the modern battlefield because they are low-cost, easy-to-produce, asymmetric assets that can be used for a wide range of missions,” Poponak wrote. “The majority of Aevex’s revenue comes from UAS sales, and we think the company’s products are competitive offerings that it can sell into rising unmanned defense budgets globally.” The analyst noted that Aevex will likely ramp up its domestic UAS program as it redirects its focus away from deals tied to the Ukraine war, per Goldman Sachs. Roughly two-thirds of its revenue is linked to the conflict as of writing time, according to the analyst note. Goldman Sachs’ call is one of several bullish ratings for Aevex on the Street. JPMorgan, Baird and RBC Capital Markets also recently initiated coverage of the stock with outperform or overweight ratings. The firms acted as joint lead bookrunning managers for Aevex’s IPO.
