tiprankstipranks
Axon downgraded to Neutral from Overweight at JPMorgan
The Fly

Axon downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Paul Chung downgraded Axon to Neutral from Overweight with a $224 price target. The analyst cites valuation for the downgrade and remains positive on the name longer term. Axon’s strong position in a large addressable market, revenue growth momentum of 20% and favorable government funding environment could provide upside to estimates over time and command a premium multiple relative to industrial tech peers, the analyst tells investors in a research note. However, the firm now expects Axon to perform in line with its coverage universe over the next six to twelve months.

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on AXON:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles