Morgan Stanley buyers of Axon weakness after underperformance

Morgan Stanley finds the latest moves in Axon (AXON) to be “largely reactionary and perhaps somewhat rotation based,” telling investors that the firm sees weakness in shares as a buying opportunity as it continues to see meaningful growth opportunities for Axon, particularly as “one of the few software names monetizing AI tailwinds today.” The firm keeps an Overweight rating and $675 price target on Axon.