Dallas Set to Vote on Approval of $3.7M Contract with TASER (TASR) - Dougherty
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Dougherty & Co maintained a Buy rating on TASER International (NASDAQ: TASR) with a price target of $34. Comments come ahead of a Dallas City Council vote on approval for a $3.7 million contract with TASER, set for tomorrow. The report noted TASER was given an 80% in the summary of the scores, topping its nearest competitor L-3, which scored 69% with a bid cost of $3.8 million. Digital Ally (NASDAQ: DGLY) was ranked 6th with a score of 50% and a bid cost of $4.3 million.
Analyst Gregory McKinley said, "The contract includes 1,000 cameras to be shipped over 5 years (~$800k) plus 5 years of evidence.com (~$2.9 million, ~$48/license/month). A grant has been provided to cover up to $1.0 million of the contract but has a deadline attached to it, leading to the council's decision to add this proposal to an addendum on tomorrow's agenda. We believe this grant deadline is a factor in receiving quick approval during tomorrow's council meeting."
"The proposal to city council provides a summary of the scores and costs associated with each bid received as well as a breakdown of why TASR was selected. TASR's bid is the only bid up for vote tomorrow, beating out six other vendors, and one of only two bids to go through the negotiation process (L-3," added the analyst. "If the contract is approved, Dallas will become TASR's 18th major city body camera deployment."
For an analyst ratings summary and ratings history on TASER International click here. For more ratings news on TASER International click here.
Shares of TASER International closed at $31.87 yesterday.
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