Fly News Breaks for April 5, 2017
Apr 5, 2017 | 15:25 EDT
CL King analyst George Godfrey called Taser's plan to provide a body camera for every police officer a "bold and potentially very lucrative move by the company," but also cautioned that its impact to operating income could be significant. Ten thousand officers would represent a $12M per year cost, assuming a body camera is $100 per month, per officer, though he ultimately believes the cost on a per-officer basis will be lower. The strategy may push fence-sitters into the market and "fertilizes the field" for Record Management Systems, which are the newly-renamed company's next big product and have the potential to be a "game-changer," Godfrey tells investors. He keeps a Buy rating and $32 price target on Taser shares, which will begin trading tomorrow under the company's new symbol of AAXN.
News For TASR;AAXN From the Last 2 Days
Feb 24, 2020 | 09:06 EST
JPMorgan analyst Mark Strouse raised the firm's price target on Axon to $92 from $78 and keeps an Overweight rating on the shares ahead of the company's Q4 results on February 27. The analyst remains optimistic regarding Axon's long-term growth prospects and he sees a favorable setup during the first half of 2020 due to "easy" year-over-year comps, particularly in the weapons segment. His higher price target reflects improved trading multiples for the company's peers.