Appen's Unpredictable Volumes Keep Jefferies Cautious -- Market Talk

Dow Jones09-02

2311 GMT - The potential for inconsistent work volumes over the remainder of 2024 keep Jefferies analyst Wei Sim from getting more positive on AI-training provider Appen. Sim tells clients in a note that the Australia-listed company's more diverse customer base and lower cost profile have positioned it to deliver earnings growth from any incremental revenues, but warns the road ahead still looks rocky. He recalls management's warnings that volumes could be inconsistent over the December half, and keeps a hold rating on the stock despite doubling his target price to A$1.20. The stock is at A$1.00 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

September 01, 2024 19:11 ET (23:11 GMT)

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