Shares of the self-propelling Roomba vacuum cleaner iRobot (IRBT - Get Report) shifted into higher gear on Friday after analysts at Bank of America Merrill Lynch initiated coverage on the company with a buy rating and a one-year price target of $70.
iRobot stock was up about 2% on Friday trading after BoA's rating call, a welcome change in direction from July, when iRobot warned that the ongoing China-U.S. trade kerfuffle would affect its full-year earnings.
Based in Bedford, Mass., iRobot was founded in 1990 by three members of MIT's Artificial Intelligence Lab, who designed robots for space exploration and military defense.
Premium Pick: Jim Cramer: Looking for an Edge? Here Are 3 Stock Ideas
Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM
Catch Up: Today's Top News Videos Below