- 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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