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Fly News Breaks for September 27, 2019
IRBT
Sep 27, 2019 | 07:07 EDT
BofA/Merrill analyst John Babcock initiated iRobot with a Buy rating and a price target of $70. The analyst notes that the valuation on the stock at 17.9-times his expected 2020 earnings is "relatively attractive" while investor sentiment is "relatively negative", saying that its near term results are likely to "surprise positively". Babcock adds that while his FY20 earnings projection is below consensus, expecting estimates to come down, he believes that is already priced into the shares.
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