Credit Suisse Sees Strong Growth Potential For Axon Enterprise, Raises Price Target

Credit Suisse analyst Sami Badri reiterated Outperform rating on the shares of Axon Enterprise, Inc. AXON and increased the price target to $300 from $237.
The analyst updated the model to reflect key end-market products' latest industry growth outlooks.
Badri thinks the company's strong pricing power due to high product stickiness and robust demand will aid growth.
Axon Enterprise has raised the prices of its core products by 10%, which is expected to strengthen the company's margins.
The analyst considers the FY23 guidance and LT growth target range of 20%+ CAGR conservative.
The analyst outlines a path to ~30% revenue CAGR when comparing key product segments to industry data sets, further supporting the AXON top-pick thesis.
Price Action: AXON shares are trading higher by 1.28% at $225.49 on the last check Tuesday.

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