The firm has a $32 price target on shares of the Scottsdale, AZ-based maker of electrical weapons, body cameras and digital evidence management solutions.
The higher rating is based on strong organic growth, a leading position in body cameras, low international market exposure, accelerating earnings growth, margin expansion and opportunity for growth in its weapons unit, according to the Fly.
Despite the upgrade, shares of Taser closed lower by 0.2% to $25.05 on heavy trading volume Wednesday.
About 1.26 million of the company's shares changed hands today vs. its average 30-day volume of 722,793 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. 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 expanding profit margins.
But the team also finds weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.
Recently, 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.
You can view the full analysis from the report here: TASR