Morgan Keegan Boosts Taser Estimate
Morgan Keegan says the consumer version of Taser International's (TASR ) TASR X26 is expected to come out this summer, and increased its 2004 earnings estimate for the company.
Analyst Brian Ruttenbur says he has also heard rumors that a national retailer will market the product to individuals, but Taser was not able to confirm the rumor. However, Ruttenbur believes this development could benefit shares of Taser more than actually having a material impact on the company itself. Historically, Taser has sold the majority of its consumer products directly to customers via the company's website. Ruttenbur thinks that the alternative distribution channel would raise consumer recognition and contribute to a potential sales increase of its product.
The analyst raised his earnings per share estimate for 2004 from 54 cents to 59 cents, and he set his 2005 earnings per share estimate at 77 cents; he is keeping his market perform rating on the stock.