Axon price target raised to $500 from $430 at JMP Securities

JMP Securities raised the firm’s price target on Axon (AXON) to $500 from $430 and keeps an Outperform rating on the shares ahead of the Q3 earnings report. The firm’s discussions in the field and notable headlines pointed to key themes across the sector that may influence its coverage names, including the growing prevalence of drones and drone-related use cases permeating across its coverage whether in the defense or public safety realms, as well as rising competitive tensions among the Collaborative Combat Aircraft Increment I finalists, the analyst tells investors in a research note. The firm remains more than cautiously optimistic that future AI-driven technologies represent a real opportunity within the public safety market.