Taser TASR has announced orders from three different law enforcement agencies and we wanted to update readers. Shares were recently trading slightly lower on the day at $16.89.
This morning, Taser said it has received a total of 985 orders for its X26 electronic control devices from law enforcement agencies in Louisiana, Tennessee and California. All orders will be shipped in the fourth quarter and include related accessories.
This is a great start to the quarter and we look forward to the company making many more order announcements from domestic law enforcement agencies in the short term. Longer term, the focus is on international growth. As management mentioned during its conference call, many countries are testing its products and so far, the results have been positive.
We expect to see huge orders over the next 12 to 18 months, which is the reason behind pushing our rating back to a One. We believe shares offer a very favorable risk/reward at the current price, and we would be buyers here if not for our already large position in the model portfolio.
Frank Curzio is a research associate at TheStreet.com.
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