Benchmark Maintains a 'Buy' on iRobot Corp (IRBT); Strong Three-Year Target; Army Committed to SUGV
IRBT Hot Sheet
Rating Summary:3 Buy, 1 Hold, 3 Sell
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Down
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Benchmark maintains a 'Buy' on iRobot Corporation (NASDAQ: IRBT) price target lowered to $32.00.
Benchmark analyst says, "FY12 guidance below expectations on Government weakness...DoD remains committed to SUGV; Outlook reflects political/budget uncertainty. We think iRobot has the potential to do better in the coming year as its Government bookings improve after the passage of the GFY12 budget, which included $61 million for SUGV procurement and development...We reduce our FY12 sales and EPS to $475 million and $0.90 to reflect guidance."
"We maintain our rating and view better than expected Home robot sales, new Government bookings, and clarity around healthcare/commercial initiatives as catalysts for the coming year. IRBT had $6.54 in net cash per share at the end of the quarter."
For an analyst ratings summary and ratings history on iRobot Corporation click here. For more ratings news on iRobot Corporation click here.
Shares of iRobot Corporation closed at $38.30 yesterday, with a 52 week range of $22.46-$39.00.
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Benchmark analyst says, "FY12 guidance below expectations on Government weakness...DoD remains committed to SUGV; Outlook reflects political/budget uncertainty. We think iRobot has the potential to do better in the coming year as its Government bookings improve after the passage of the GFY12 budget, which included $61 million for SUGV procurement and development...We reduce our FY12 sales and EPS to $475 million and $0.90 to reflect guidance."
"We maintain our rating and view better than expected Home robot sales, new Government bookings, and clarity around healthcare/commercial initiatives as catalysts for the coming year. IRBT had $6.54 in net cash per share at the end of the quarter."
For an analyst ratings summary and ratings history on iRobot Corporation click here. For more ratings news on iRobot Corporation click here.
Shares of iRobot Corporation closed at $38.30 yesterday, with a 52 week range of $22.46-$39.00.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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