C.K. Cooper Reiterates Buy Rating on iRobot (IRBT)

C.K. Cooper & Company is out with a research report this afternoon, where it reiterates its Buy rating on iRobot Corporation IRBT; it has a $30.00 price target on the stock. The CK analysts cited the company’s most recent earnings report, which handily beat estimates, driven by better than expected performance at both the Home Robots and G&I divisions. Company management also raised guidance to the range of $0.51 to $0.54 on revenues of $385 to $390 million. The CK noted that, even with year over year growth at impressive rates, expenses should rise in the second half of 2010 as marketing costs rise into the holiday season. The C.K. Cooper analysts said, “We reiterate our BUY rating and $30 target price, representing 50.0x forward earnings and 16.0x forward EBITDA (54.0x forward earnings and 17.0x forward EBITDA prior).”
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Posted In: Analyst ColorPrice TargetAnalyst RatingsC.K. Cooper & CompanyConsumer DiscretionaryHousehold Appliances
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