Raymond James Initiates Coverage On Byrna Technologies, Sees High Potential Upside

August 20, 2021 3:31 PM | 1 min read

Raymond James analyst Brian Gesuale initiated coverage with a Strong Buy rating for Byrna Technologies Inc BYRN and a price target of $36, implying an upside of44.32%.
Gesuale believes the company is well-positioned to become the leading lifestyle brand for personal safety products. Its extensive IP portfolio creates a competitive moat for its expanding non/less-lethal self-defense products.
Recently the company acquired assets of Ballistipax for an undisclosed sum. Byrna received several Ballistipax trademarks, two patents, finished goods, raw materials inventory, and other assets.
Price Action: BYRN shares are trading higher by 7.92% at $26.23 on the last check Friday.