Axon initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Axon (AXON) with an Outperform rating and $860 price target The company’s 25% revenue growth should sustain, driven by cross-sell/up-sell opportunities within the U.S. state and local public safety market, continued penetration into emerging customer verticals, and expansion into new product categories, the analyst tells investors in a research note. RBC believes Axon has a “strong position in a large and growing addressable market.”