APX Charts, page-3146

Broker Citi retained its buy rating on Appen shares, by the Christmas share price target of $17. That implies a future potential upside of more than 70% over just the next 12 months. Downtrend has been broken and uptrend confirmed.In my view, Appen is “really well-positioned for the future of business, because it’s in artificial intelligence, it’s in machine learning. Companies with digitally savvy leaders, those who are aware of emerging technologies and their impact, outperformed their peers on revenue growth and valuation by over 48%, another MIT research team found.The appeal of AI has made its way to technology budgets, with the number of companies investing $500,000 to $5 million in AI rising 55% year over year, Appen's State of AI and Machine Learning report found.Experts estimate that Appen’s performance will improve “when business gets back to normal,” and pointed to the fact that four brokers he follows (including Citi) are rating Appen with price targets well above the current share price.No doubt shareholders will be sharing in this optimism.At the current Appen share price of $10.66, this company has a market capitalisation of $1.26 billion, a price-to-earnings (P/E) ratio of 33.96 and a dividend yield of 0.97%.