iRobot To Report 1Q Earnings on April 27th, JP Morgan Maintains Neutral Rating

JP Morgan has published a research report on iRobot Corporation IRBT in anticipation of the company's 1Q results, expected on April 27th. In the report, JP Morgan writes, "We expect IRBT to report 1Q results aligning with expectations and to reiterate FY11 guidance. While there are still some risks regarding the timing of military orders, and adoption of home cleaning robots in new geographies, we believe the long-term prospects are very encouraging. That said, with the stock trading at a premium growth multiple, we believe further appreciation (up 18.6% since the 4Q call on 2/10 vs. S&P 500 down 0.9%) depends on upward revision to FY11 guidance, which we think is improbable at present given the slow pace with which US DOD funds have been released, year-to-date. Investors should keep this stock on their radar and look for a pullback as a possible entry point." JP Morgan maintains its Neutral rating and $28 price target. iRobot closed Thursday at $36.37.