Business
Why JPM just upgraded the beaten-down Appex (ASX:APX) share price to “buy”
The Appen Ltd (ASX: APX) share price continues to tumble after its disappointing outlook but this is a good time to buy the stock, according to JPMorgan.
The broker upgraded its recommendation on the APX share price to “overweight” from “neutral” despite the bad news.
Appen share price falls despite broker upgrade
The move is yet to help shares in the artificial intelligence (AI) company though. The Appen share price lost another 2.4% to $25.58 in the last hour of trade when peers like the Afterpay Ltd (ASX: APT) share price and Xero Limited (ASX: XRO) share price are outperforming.
Today’s loss comes on top of Appen’s 12.4% plunge yesterday when it downgraded its earnings guidance.
Appen share price rocked by earnings…
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