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Fly News Breaks for October 9, 2019
IRBT
Oct 9, 2019 | 04:52 EDT
Raymond James analyst Brian Gesuale downgraded to Underperform from Market Perform citing the emergence of a pricing war.
News For IRBT From the Last 2 Days
IRBT
Oct 16, 2019 | 06:54 EDT
JPMorgan analyst Mark Strouse lowered his price target for iRobot (IRBT) to $69 from $83 and keeps a Neutral rating on the shares ahead of the company's Q3 results. The analyst expects "some quarter-to-quarter noise" in the second half of 2019 related to timing of Amazon (AMZN) orders, which he notes are expected to be unseasonably tilted towards Q4 owing to tariffs. In addition, initial reviews for the competing high-end Shark RVC are mostly positive, which may lead to share loss for iRobot during the key holiday season, Strouse tells investors in a pre-earnings research note. While iRobot has sued Shark for patent infringement, the analyst does not expect a decision prior to year-end, "meaning that holiday sales may still be at risk."