Market Overview

UPDATE: JP Morgan Upgrades TASER International to Overweight on Cycle Momentum, Pullback

Related TASR
TASER Wins London Police Contract - Analyst Blog
Will TASER International (TASR) Crush Estimates at Its Next Earnings Report? - Tale of the Tape

JP Morgan upgraded TASER International (NASDAQ: TASR) from Neutral to Overweight and maintained a $10.50 price target.

JP Morgan noted, "TASR reported solid 4Q revenue growth of 50% y/y, beating expectations. EPS beat our estimates by $0.03 adjusting for one-time items. The stock sold off yesterday (down 20% vs. SP500 down 0.6%) owing to guidance that SG&A expense will increase ~10% in FY13, somewhat limiting EPS leverage from the solid revenue momentum. That said, we believe the investments, largely in telesales and international sales headcount, can be scaled back if the initiatives don't generate the expected sales growth. … Additionally, TASR's first Analyst Day on March 12 could present a catalyst as the company is expected to discuss its long-term target operating model."

TASER International closed at $6.90 on Thursday.

Posted-In: JP MorganAnalyst Color Upgrades Analyst Ratings

 

Most Popular

Related Articles (TASR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free