NEW YORK (TheStreet) -- Shares of TASER International (TASR) are up 4.46% to $25.05 in pre-market trading after Oppenheimer initiated coverage on the company with an "outperform" rating and a price target of $28.
Arizona-based TASER is known for its production of conducted electrical weapons (CEWs). The company has emerged as one of the leading players in the potentially rapid growing space of on-officer body cameras and digital evidence management, Oppenheimer said.
Analysts believe TASER's widespread success in CEWs has paved the way to make it the leading technology provider to law enforcement agencies.
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Although recently announced Federal support of on-officer cameras combined with mounting pressure from the public for their adoption has pushed the stock to high premiums, analysts like TASER's price-maker position and opportunity for long-term growth.
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."