C. K. Cooper & Company Begins Coverage Of Robot Maker iRobot (IRBT)

C. K. Cooper & Company analyst Alex Hamilton initiated coverage of iRobot Corporation (Nasdaq: IRBT) with a Hold Rating.

iRobot Corporation manufactures and markets robots used in two markets: commercial and military.

Although it's an unproven market, the barriers to entry are very high, which means that the company doesn't face much competition.

The C. K. Cooper & Company analyst wrote, "we forecast IRBT’s revenue will grow 16% to $346.4 million in 2010E and 6% to $367.2 million in 2011E. For 2010E we forecast operating margins of 2.1% - up from 1.8% in 2009A. For 2011E we expect margins to expand to 3.0% as the business starts to gain scale. We forecast EPS of $0.21 in 2010E, up from $0.13 in 2009A. For 2011E we forecast EPS of $0.29. Note none of our forecasts take potential acquisitions into account."