UPDATE: JPMorgan Downgrades iRobot Corporation (IRBT) to Neutral
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JPMorgan analyst Mark Strouse downgraded iRobot Corporation (NASDAQ: IRBT) from Overweight to Neutral with a price target of $103.00 (from $150.00).
The analyst comments "IRBT is trading at ~9x our FY22 PF EBITDA, and ~16x our CY22E PF EPS, or 32% and 37% discounts to the three-year historical forward average. We expect the multiple to remain depressed given the execution challenges driven by component shortages, though we do expect earnings leverage to return in the 2H22 as supply constraints normalize, Malaysia manufacturing facility ramps, and DTC product mix accelerates."
Shares of iRobot Corporation closed at $88.83 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
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