Axon price target raised to $895 from $750 at BofA

BofA raised the firm’s price target on Axon (AXON) to $895 from $750 and keeps a Buy rating on the shares. After what the firm calls out as the company’s 13th consecutive quarter of 25%-plus growth, it argues that Axon’s dedication to new product development, innovation, and digital first strategy is a critical differentiator to peers and says momentum, opportunity for upgrades, and Federal tailwinds that continue to build give the firm confidence in underwriting greater than 20% year-over-year revenue growth through 2029. The firm still sees Axon as “a differentiated and unique opportunity for investors” and an opportunity to own a company operating in “defensive” markets without sacrificing the revenue profile of “growth” stocks, the analyst added.