AAXN - An Analyst Sees 23% Upside for Axon Enterprise in New Government Contracts
The sole-source contract Axon Enterprise (NASDAQ: AAXN) just scored from the federal Drug Enforcement Administration (DEA) has a Morgan Stanley analyst saying it could open up a world of opportunity for the maker of Tasers, body cameras, and cloud-based evidence management tools.
James Faucette upgraded Axon stock to overweight from equal weight and hiked his target price 60% to $185 per share, a 23% premium to where the company's shares currently trade.
Police officers putting on body cameras. Image source: Axon Enterprise.
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An Analyst Sees 23% Upside for Axon Enterprise in New Government Contracts