NEW YORK (TheStreet) -- Shares of TASER International (TASR) are tanking, sharply down 5.96% to $21.95 in early market trading Wednesday, after the maker of law enforcement and military equipment had its rating cut to "neutral" from "overweight" by analysts at JPMorgan Chase this morning.
Analysts at the firm cited valuation for its downgrade following the recent rally in shares.
The stock got a boost yesterday from President Obama's request for funding to increase the number of police body cameras in the wake of the Ferguson, MO shooting.
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JPMorgan Chase analysts recommend taking profits at current share levels.
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:
"We rate TASER INTERNATIONAL INC (TASR) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, expanding profit margins, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."