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Fly News Breaks for July 24, 2019
IRBT
Jul 24, 2019 | 10:07 EDT
Piper Jaffray analyst Troy Jensen lowered his price target on iRobot shares to $75 from $96 after the company reported mixed Q2 results and lowered its 2019 revenue and earnings expectations, citing the 25% tariffs on Chinese-made products that have been put into effect by the U.S. iRobot has a robust product pipeline that will be a tailwind for revenue growth in 2020, but it will continue to be impacted by tariff costs until a China/U.S. trade settlement or until the company can shift more of its manufacturing, said Jensen, who keeps a Neutral rating on the stock.
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