Piper starts Axon with Overweight on innovation, addressable market

Piper Sandler initiated coverage of Axon (AXON) with an Overweight rating and $893 price target The firm cites the company’s product innovation and large total addressable market for its bullish share stance. Axon operates in a “very sticky market” and is expanding in areas like artificial intelligence and drones, the analyst tells investors in a research note. Piper says Axon’s product portfolio can target 2B frontline workers and its current penetration in law enforcement is low.