NEW YORK (TheStreet) -- Shares of TASER International Inc. (TASR) are climbing higher by 9.09% to $24.10 in mid-morning trading on Tuesday, as law enforcement and military equipment makers and suppliers get a boost from President Obama's request for funding for an increase in police body cameras in the wake of the Ferguson, MO shooting.
The White House asked for $263 million in funding in order to equip police with body cameras and for additional training, as unrest in Ferguson continues following the grad jury decision regarding the police shooting of an unarmed teenager, NBCnews.com reports.
The program still needs congressional approval, but would offer $75 million over three years to match state funding for the cameras by 50%, which would help to pay for over 50,000 devices, NBCnews.com added.
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TASER International makes electronic control devices designed for use in law enforcement, military and other related fields.
Shares of Digital Ally Inc. (DGLY) , a company that produces digital video imaging and storage products for use in law enforcement, are also rising higher by 32.06% to $17 this morning.
Separately, TheStreet Ratings team rates TASER INTERNATIONAL INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: