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Actionable news in IRBT: iRobot Corporation,

Why Key Analyst Sees iRobot as a Solid Buy

Considering weakness over the past year and a recent rally, one key analyst sees iRobot Corp. (NASDAQ: IRBT) in a prime opportunity to buy going into the fourth quarter. According to the firm, the outlook is brighter in 2016 as contribution from the Defense segment continues to strengthen.

Canaccord Genuity is more constructive on 2016 growth prospects and raised 2016 estimates based on better Home Robot demand from Roomba 980 and signs of improving Defense business. In the near-term, the firm sees little likelihood of an increase to its fourth quarter estimates, given the high hurdle already set in order to maintain 2015 guidance. Given the recent run in the stock, Canaccord Genuity would...