J.P. Morgan Maintains Underweight Rating On TASER

According to J.P. Morgan, TASER International (NASDAQ: TASR) Underweight rating is maintained.

J.P. Morgan said that it believes the biggest headwind for the company remains the poor state of state and local budgets, which could remain under pressure for an extended period of time. “We remain constructive regarding the firm's long-term prospects, so we do not view this as a good stock to short. We are introducing FY13 ests and are establishing a YE 2012 price target of $5.50 (from a YE 2011 price target of $5.00).”

TASER International closed yesterday at $4.23.