UPDATE: Dougherty & Company Upgrades Taser International; Raises PT

According to a research report published this morning, Dougherty & Company has upgraded Taser International

from Neutral to Buy, and increased PT from $4.50 to $5.50. In the report, Dougherty & Company said, "Valuation always remains a challenge for TASR - a company that dominates its markets and faces little competition - but one that has produced only minimal earnings per share over the last 7 years in aggregate. We believe visibility for earnings generation is improving, which is the basis of our rating revision from Neutral to Buy." Taser International closed Friday at $4.47.