Markets & Finance

Morgan Keegan Downgrades Taser

Morgan Keegan downgrades Taser International (TASR) to underperform from market perform.

Analyst Brian Ruttenbur says $19.2 million in revenue and 8 cents earnings per share were below his $20.5 million and 11 cents estimates, respectively, as well as below consensus 10 cents earnings per share.

He expects the slowdown in top- and bottom-line growth in 2005. He notes management is cautioned about near-term uncertainty and challenges.

Ruttenbur says he's concerned about the growth of the company slowing, increasing costs, potentially mounting legal expenses, as well as potential competition slowing down TASER sales to law enforcement community in first-half 2005.

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