- Raymond James analyst Brian Gesuale initiated coverage with a Strong Buy rating for Byrna Technologies Inc (NASDAQ:BYRN) and a price target of $36, implying an upside of44.32%.
- Gesuale believes the company is well-positioned to become the leading lifestyle brand for personal safety products. Its extensive IP portfolio creates a competitive moat for its expanding non/less-lethal self-defense products.
- Recently the company acquired assets of Ballistipax for an undisclosed sum. Byrna received several Ballistipax trademarks, two patents, finished goods, raw materials inventory, and other assets.
- Price Action: BYRN shares are trading higher by 7.92% at $26.23 on the last check Friday.
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