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Fly News Breaks for October 21, 2015
MSI, TASR
Oct 21, 2015 | 08:55 EDT
Craig-Hallum analyst Steven Dyer says that while Motorola Solutions (MSI) adds a "very legitimate competitor" in the body-worn video camera market, TASER (TASR) has a "large head start." Since the shooting in Ferguson, body cams and video storage have been a top priority for police departments, Dyer tells investors in a research note. His work indicates 16 of the top 60 departments in the U.S. are already in full rollout, with 15 selecting TASER for a multi-year contract, while another 22 are currently piloting TASER's solution. Yesterday's announcement from Motorola Solutions regarding its body-worn video cameras reminds Dyer of a similar one made this Spring by Panasonic. He does not believe Panasonic has won any major contracts to date. Dyer reiterates a Buy rating on TASER with a $33 price target. The stock closed yesterday down 11% to $22.09.
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