Oppenheimer Starts TASER International (TASR) at Outperform

(Updated - December 22, 2014 7:52 AM EST)

Oppenheimer initiated coverage on TASER International (NASDAQ: TASR) with an Outperform rating and a price target of $28.00. Analyst Andrew Uerkwitz described it as a "shockingly strong story."

"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. We believe TASER's widespread success in CEWs has paved the way to make it the leading technology provider to law enforcement agencies. 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, we like TASER's price-maker position and opportunity for long-term growth," said Uerkwitz.

"We introduce 2014-16 EPS estimates of $0.38/$0.53/$0.65, which compare to Street estimates of $0.38/$0.47/$0.63. Although trading at high premiums, we believe long term P/E re-rates higher due to EVIDENCE.com adoption," he adde.d

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 $23.98 yesterday.

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