In the grimoire, it is described as a shotgun with the range of a precision rifle. It doesn't.
My suggestion: increase its base range to the maximum for regular shotguns, and further increase the amount its special perk increases the range. I reckon if it were ranged like a fusion rifle then it would live up to its grimoire description and not be overpowered. If you left the impact the same then it would be just fine. Damage falloff would start be less as well. For PVP it'd probably be alright but if it was too powerful you could reduce its PVP damage at range ONLY to compensate.
The rate of fire it currently has is acceptable, and the reload speed is tolerable too, if it were to have greater range.
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PvP will cry, and that would be the end of it after the nerf.
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Agree it needs more range. A fusion rifle may be to long but it should be greater than Felwinters lie with rangefinder perk