BUZZ - Jefferies resumes coverage of Aevex after its acquisition of BlackSea, assigning a "Buy" rating

September 23 - ** Jefferies has resumed coverage of defense company Aevex (AVEX.N) with a "Buy" rating and a target price of $26.

** It is noted that the acquisition of naval defense company BlackSea will "complement a sizable portfolio of unmanned surface and underwater vehicle products, while strengthening Aevex’s position in multi-domain autonomy."

** "We believe that growing demand in the fields of 'launch effect,' 'precision strike,' and 'maritime autonomy' will support the company's continued growth, margin improvement, and potential for a re-rating, and that the current share price still trades at about a 50% discount to peers," — Jefferies

** Of the 10 brokerages covering the stock, 9 rate it "Buy" or higher and 1 rates it "Hold"; the median target price is $34 — LSEG aggregated data

** As of the close of the previous trading day, AVEX has fallen nearly 31% since its IPO in April

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