Morgan Stanley analyst Meta Marshall upgraded Axon (AXON) to Overweight from Equal Weight with a price target of $700, up from $500. The firm has increasing confidence that the 25%-30% growth Axon is seeing is durable as software continues to become a growing portion of the model. While the name is expensive and may need to grow into valuation, over the long term Morgan Stanley sees it as a core holding, the analyst tells investors in a research note.
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