Shares iRobot climbed Friday, after analysts at Bank of America Merrill Lynch initiated coverage on the stock with a buy rating.
The bank initiated coverage with buy and one-year price target of $70 on the shares of the robotic vacuum cleaner maker.
In July, iRobot expressed concerns that the ongoing China-U.S. trade tensions would pose headwinds to its full-year earnings.For the full year 2019, iRobot expects revenue in the range of $1.2 billion to $1.25 billion, operating income of between $75 million and $100 million, and earnings per share of between $2.40 and $3.15.