Business
ASX adds 0.4pc; Kogan shares rebound; CPI falls short of forecast – The Australian Financial Review
Australian shares rallied on a weak consumer price index print; JB Hi-Fi shares fall after chief executive announces departure; Pacific Equity Partners scraps Link…
Appen shares have been raised to neutral from underperform at broker Macquarie, which warns that further downgrades to earnings cant be ruled out. Its target price is still $16 a share.
Appens sensitivity to pricing is such that a 1 per cent move in prices is equivalent to a 7 to 9 per cent swing in earnings on a financial 2021 to 2023 basis.
A more competitive market for Appen, which sells data for artificial intelligence and machine learning applications, has torpedoed the share price.
Appen stock…
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