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TASR

Changed name to AAXN

$22.09

-0.4 (-1.78%)

, DGLY

Digital Ally

$5.41

-0.12 (-2.17%)

11:10
10/14/16
10/14
11:10
10/14/16
11:10

Analyst says TASER has multiple competitive advantages, recommends stock

The shares of TASER (TASR) are on the rise after research firm Imperial Capital initiated coverage of the stock with an Outperform rating. Imperial's initiation comes shortly after the company lost a New York City police body camera contract to a competitor. INITIATION: Noting that TASER is the market leader in the electrical weapon space, Imperial Capital analyst Jeff Kessler wrote that the company's "unaided brand awareness, very high market share and its business model" give it a significant competitive advantage. Moreover, unlike its competitors, TASER has a cloud-enabled forensic solution that it offers in tandem with its hardware, and "a long-term relationship with law enforcement agencies," Kessler stated. Additionally, the company's weapons carry margins of about 70%, and demand is growing for non-lethal and self-defense weapons amid the rising crime rate, the analyst wrote. Finally, TASER's investments in R&D and M&A could enable it to improve its weapons and body camera offerings going forward, wrote Kessler, who set a $27 price target on the shares. NYPD CONTRACT: TASER bid unsuccessfully for a New York City Police Department body camera contract, losing out earlier this month to a small, privately held competitor, Vievu. The latter company bid only $20 per camera per month, which is far below TASER's usual price of around $45-$49 per camera per month. TASER lodged a formal complaint about the NYPD's decision ,and raised concerns about Vievu's pricing and technology, according to the Wall Street Journal. Last night, TASER confirmed that on October 3, due to its concern that the NYPD "was about to select a body worn camera vendor without a technical field evaluation," TASER offered to provide the NYPD with 1,000 TASER Axon body cameras, software and storage, free of charge. At a public hearing held by the NYPD concerning the proposed contract, Vievu said it would match TASER's gift, the company added. Commenting on the development, TASER government affairs VP Isaiah Fields said, "We're thrilled that TASER is the catalyst for NYPD's opportunity to get 2,000 free body cameras at no cost to the community. The NYPD can use this opportunity to accelerate its body camera program with cameras out on the streets this year instead of next, in a side-by-side field trial that ensures the selection of the best technology for the city." LAWSUIT: A federal district court ruled today that another TASER rival in the body camera space, Digital Ally (DGLY), can commence discovery pertaining to its antitrust lawsuit against TASER. The ruling removed a stay on discovery that had been in place. PRICE ACTION: In morning trading, TASER climbed 4% to $23. Small-cap Digital Ally jumped 9.8%, or 53c, to $5.94 in the wake of its announcement of the court ruling.

TASR

Changed name to AAXN

$22.09

-0.4 (-1.78%)

DGLY

Digital Ally

$5.41

-0.12 (-2.17%)

TASR Changed name to AAXN
$22.09

-0.4 (-1.78%)

10/06/16
JPMS
10/06/16
NO CHANGE
JPMS
Overweight
TASER selloff overdone, says JPMorgan
10/06/16
JPMS
10/06/16
NO CHANGE
Target $31
JPMS
Overweight
NYPD contract fuels concerns, but TASER selloff overdone, says JPMorgan
JPMorgan analyst Mark Strouse notes that TASER's stock has declined significantly this week owing largely to the reported loss of the NYPD body-camera contract to a competitor. While the analyst sees this loss as somewhat of a surprise, he thinks the contract's pricing was the largest factor weighing on the stock. However, Strouse believes the NYPD contract pricing was a one-off occurrence. The analyst sees the selloff in TASER's shares as overdone and recommends investors add to positions. He reiterates an Overweight rating and $31 price target on the shares.
10/14/16
IMPC
10/14/16
INITIATION
Target $27
IMPC
Outperform
TASER initiated with an Outperform at Imperial Capital
Imperial Capital analyst Jeff Kessler started TASER with an Outperform rating and $27 price target. The company's "unaided" brand awareness and "very high" market share provide "significant leading advantage" over competitors in non-lethal weaponry space, Kessler tells investors in a research note.
10/14/16
10/14/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Activision Blizzard (ATVI) initiated with an Outperform at Oppenheimer. 2. Aqua America (WTR) initiated with a Neutral at Baird. 3. HP Enterprise (HPE) initiated with an Underperform at CLSA. 4. TASER (TASR) initiated with an Outperform at Imperial Capital. 5. Noble Energy (NBL) initiated with a Buy at Mizuho. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
DGLY Digital Ally
$5.41

-0.12 (-2.17%)

11/13/15
11/13/15
DOWNGRADE

On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Neutral from Buy at Goldman... Advance Auto Parts (AAP) downgraded after Q3 miss at Sterne Agee CRT... CafePress (PRSS) downgraded to Underperform from Market Perform at Raymond James... Ctrip.com (CTRP) downgraded to Outperform from Strong Buy at Raymond James... CubeSmart (CUBE) downgraded to Outperform from Strong Buy at Raymond James... Deutsche Bank (DB) downgraded to Neutral from Buy at Citi... Digital Ally (DGLY) downgraded to Neutral from Buy at Roth Capital... El Pollo Loco (LOCO) downgraded to Neutral at Baird... F5 Networks (FFIV) downgraded to Market Perform from Outperform at William Blair... FirstMerit (FMER) downgraded on stock outperformance at Raymond James... Fly Leasing (FLY) downgraded to Underweight from Neutral at JPMorgan... GameStop (GME) downgraded on valuation, digital impact at Pacific Crest... Histogenics (HSGX) downgraded to Neutral from Buy at BTIG... MaxPoint (MXPT) downgraded to Hold from Buy at Needham... Memorial Resource (MRD) downgraded to Outperform at Scotia Howard Weil... Rite Aid (RAD) downgraded to Neutral from Overweight at JPMorgan... Rubicon Minerals (RBY) downgraded to Sell from Hold at Canaccord... SABMiller (SBMRY) downgraded to Hold from Buy at Berenberg... Sensata (ST) downgraded at SunTrust... Stryker (SYK) downgraded to Neutral from Buy at Goldman.
08/05/16
08/05/16
NO CHANGE

Digital Ally reports Q2 non-GAAP EPS (45c), consensus (20c)
Reports Q2 revenue $4.4M, consensus $5.75M.
08/18/16
MAXM
08/18/16
INITIATION
Target $15
MAXM
Buy
Digital Ally initiated with a Buy at Maxim
Maxim analyst Brian Kinstlinger initaited Digital Ally with a Buy and $15 price target saying the company will benefit from the surging demand for body-worn cameras.
08/18/16
08/18/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Barnes & Noble (BKS) initiated with a Neutral at Sidoti. 2. Digital Ally (DGLY) initiated with a Buy at Maxim. 3. Korn/Ferry (KFY) initiated with a Hold at Deutsche Bank. 4. Phillips 66 Partners (PSXP) initiated with a Buy at Stifel. 5. Arrowhead (ARWR) initiated with a Buy at Cantor. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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