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iRobot upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Mark Strouse upgraded iRobot to Overweight from Neutral with a price target of $166, up from $101, following the company's "solid" Q4 results. FY21 is expected to be an investment year as previously signaled by the company, though guidance is stronger than expected, Strouse tells investors in a research note. The analyst is impressed by iRobot's recent execution, progress in diversifying its manufacturing, mix shift toward premium products and higher margin Direct-to-consumer channels, which may position it well for a surge in earnings in the out year