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iRobot Corporation Message Board

  • rybovich58 rybovich58 Feb 9, 2012 4:27 PM Flag

    Benchmark maintains a 'Buy' on iRobot

    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."

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