NEW YORK (TheStreet) -- Shares of Taser (TASR) were gaining on heavy trading volume late Friday afternoon as Imperial Capital began coverage of the stock with an "outperform" rating and $27 price target.
Imperial Capital said the Scottsdale, AZ-based company is currently the market leader in the conducted electrical weapons business and body camera forensics services.
"We believe TASER's unaided brand awareness, very high market share, and its business model gives it significant leading advantage over competitors in non-lethal weaponry that do not provide a similar level of depth in its product portfolio...and do not have a long-term relationship with law enforcement agencies," the firm said in an analyst note, according to Barron's.
Additionally, Taser earlier this month bid unsuccessfully for a New York Police Department body camera contract. The contract was awarded to Seattle-based body-camera maker Vievu.
Isaiah Fields, a member of Taser's legal counsel, questioned the selection at a hearing yesterday.
Fields urged NYPD officials to conduct a field test comparing Vievu and Taser body cameras, saying they hadn't been tested before the contract was awarded and Vievu's are inferior, according to the Wall Street Journal.
About 1.43 million of the company's shares have changed hands so far today vs. its average volume of 1.29 million shares per day.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Taser as a Hold with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, the team also finds weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: TASR