UPDATE: J.P. Morgan Downgrades TASER International on Valuation

In a report published Wednesday, J.P. Morgan analyst Paul Coster downgraded the rating on TASER International TASR from Overweight to Neutral, but reiterated the $12.00 price target. In the report, J.P. Morgan noted, “We are downgrading TASR to Neutral based on valuation. The stock has increased 36% in the past two weeks (SP500 down 3.7%), is up over 30% YTD, and is trading very close to our December 2014 price target of $12.00. While we remain constructive regarding TASR's fundamentals owing to the ECD upgrade cycle and adoption of the Evidence.com video solution, we believe risk/reward is now balanced and we look for pullbacks to potentially add to positions. Our estimates and $12.00 price target are unchanged.” TASER International closed on Tuesday at $11.85.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorDowngradesAnalyst RatingsJ.P. MorganPaul Coster
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!