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Fly News Breaks for August 22, 2019
IRBT
Aug 22, 2019 | 09:32 EDT
JPMorgan analyst Mark Strouse notes that Shark's website includes a soon-to-be-released robotic vacuum cleaner that includes many of the same features as iRobot's Roomba i7 series, at a significantly lower price. While the analyst awaits initial customer reviews of the new product, he believes the offering may weigh on sentiment for iRobot somewhat. Strouse believes it is likely the new product will be available in time for the key holiday season, presenting potential risk to iRobot's market share in the U.S. The analyst has a Neutral rating on iRobot's shares.
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