Axon Enterprise, Inc. (AXON) shares are up 3.11% to $628.76 as of 3:01 pm on Thursday, following a positive market response to a significant price target increase by Bank of America. Earlier today, Bank of America raised its price target for Axon by $225, reflecting strong confidence in the company's growth prospects. This adjustment comes amid a broader market rally, with US equities reaching record highs in the third quarter of 2024, driven by cooling inflation and a substantial interest-rate cut by the Federal Reserve. Axon's performance has been bolstered by its advancements in artificial intelligence and cloud services, which have been key growth drivers in the industrials sector.