Early Bird Capital Reiterates iRobot Buy, Raises PT To $38 (IRBT)

Early Bird Capital reiterated its iRobot IRBT Buy rating and raised its iRobot price target from $36 to $38 in a research report published today. In the report, Early Bird Capital states, "Although, the outlook provided by management may not be as granular or aggressive as many desire, IRBT's business and/or management may never be able to provide guidance in that manner. That said, we believe the prospects for IRBT are strong given the anticipation of more G&I orders coupled with the expansion of the consumer business into China in 2012E (while the Latin America expansion gels)." Shares of iRobot were trading at $35.99 at the time of posting, up 1.75% from Wednesday's market close.