UBS starts Axon at Neutral, sees balanced risk and reward

Brokerage UBS starts coverage on TASER maker Axon Enterprise AXON.O with "neutral" rating and $820 PT

PT implies a 9.94% upside to the stock's last close

UBS expects Axon’s revenue to grow by 21% annually over the next five years, fueled by expansion in U.S. and international public safety markets, increased enterprise adoption, and the development of new technologies such as drones

Brokerage says Axon’s strong growth prospects are already factored into the current share price, so risk and reward are balanced

UBS notes that while Axon's international and enterprise segments are currently smaller contributors, international revenue grew 37% last year, and could become the company’s largest segment in the future, though both remain in the early stages of growth

As of last close, AXON stock up 25.5% YTD