Taser Downgraded Despite Obama Call, TJX on Goldman's 'Conviction' List

Downgrades for Taser International (TASR) and J.C. Penney (JCP) but vote of confidence for TJX (TJX) in Wednesday's Analysts' Actions. The parent company of discount retailer TJ Maxx was upgraded and added to the Goldman Sachs ‘conviction buy' list. The price target was raised to $77 from $71. The firm says upsides include ‘international expansion potential’ which is now being ‘under-appreciated.’ At the same time, Goldman downgraded JC Penney to SELL from NEUTRAL saying it has ‘concerns about the sustainability and timing of the company’s turnaround.’ The firm has a $5.50 price target for the stock. Taser International is now a NEUTRAL at JPMorgan from OVERWEIGHT. The firm is maintaining its $20 price target for the stock and says this is more a valuation call after the stock’s recent run up. Shares of Taser closed at a 10-year high Tuesday on traders betting it may benefit from President Obama’s call to provide federal funding for wearable body cameras for police officers.