Citi lowered the firm’s price target on iRobot to $14 from $51 and keeps a Neutral rating on the shares. The firm says that following the termination of the Amazon merger agreement, it is reverting to fundamentals for iRobot shares. Discussions with management were light on incremental details but did suggest liquidity and cash management will be the top priority as well as rightsizing the cost structure, the analyst tells investors in a research note.
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