Citi reiterates a Buy rating and raises forecasts by 7-11% for 2018-20 and upgrades its target to $17.31 from $17.13.
The broker is positive about the company's ability to win work over the short to medium term, in particular after the US LeapForce acquisition. Canaccord Genuity agrees that content relevance, including LeapForce, have provided earnings bridges in 2018 and will remain the drivers of earnings growth.
For 2019 Canaccord Genuity assumes modest underlying growth rates in language resources but eases back on its margin assumptions, to 18% from 21%. Underlying growth rates in content relevance have been increased, with the operating earnings margin forecast to be flat at 22%.
https://www.fnarena.com/index.php/2018/11/19/upgrades-happening-again-at-appen/
Ann: Full Year Earnings Upgrade, page-44
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Mkt cap ! $106.7M | |||
| Open | High | Low | Value | Volume |
| 49.5¢ | 49.8¢ | 47.5¢ | $529.9K | 1.091M |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 6667 | 48.0¢ |
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| Price($) | Vol. | No. |
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| 49.0¢ | 649 | 2 |
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