iRobot (IRBT) Management Meetings Suggest Short Thesis 'Lacks Teeth' - Raymond James
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Raymond James analyst Brian Gesuale rhetorically asked 'will bears in iRobot (NASDAQ: IRBT) hibernate after the holiday' following meetings with iRobot CFO, Allison Dean, and SVP of investor relations, Elise Caffrey.
Gesuale notes three common themes of the day revolved around competition, pricing pressure, and strategy in China.
The analyst came away encouraged on the first two fronts and believe the near-term bear thesis lacks teeth in those areas.
Likewise, they think China's trajectory should improve though it won't be instantaneous.
"We can't help but marvel at the volatility in the stock considering the performance has been relatively congruent for a single product emerging technology story that has absolutely dominated its category since inception," the analyst commented.
The firm maintained a Market Perform rating on the stock.
Shares of iRobot Corporation closed at $70.40 yesterday.
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