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Fly News Breaks for December 3, 2019
Dec 3, 2019 | 16:08 EDT
Piper Jaffray analyst Troy Jensen recently conducted online channel checks for iRobot's Roomba and Braava collections to determine how retail sales performed following Black Friday and Cyber Monday Sales events. From these checks, the analyst believes demand for the 17/i7+, e5 and Roomba 960 exceeded expectations, but he notes that inventory levels for the s9/s9+ remained mostly unchanged. He thinks iRobot's Q4 holiday season is off to a good start. However, while Q4 is typically a "slam-dunk" quarter for the company, this year will likely be more challenging with this being the first quarter iRobot has had to battle Shark in the $300-$600 segment, Jensen tells investors in a research note. The analyst keeps a Neutral rating on iRobot shares with a $51 price target.
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