In a report published on Friday, Benchmark analyst Josephine Millward raised the price target on iRobot IRBT from $40 to $45 and reiterated a Buy rating on the company.
In the report, Benchmark stated, "We remain very positive on iRobot and we continue to believe iRobot has upside in FY13/14 from Home robots and new products. The company dominates the global home robot markets and it has a strong pipeline of new commercial products to drive long-term growth including the new telemedicine robot, and partnership with Cisco to launch a telepresence robot in early 2014."
iRobot closed on Thursday at $37.36.
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