2342 GMT - Appen's bulls at Barrenjoey keep faith with the data-annotation provider despite a recent deceleration in revenue growth. Analysts Josh Kannourakis and Taylor Guyot tell clients in a note that their conviction remains high despite the sales slowdown in February and March, contending that the company remains well-positioned to win large-language model-related contracts. The balance sheet is also strong enough to weather the lumpy revenues, they add. Momentum in China looks good and the base business is now stable, they say. Barrenjoey cuts its target price by 23% to A$2.70 but stays overweight on the stock, which is at A$0.80 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 19:42 ET (23:42 GMT)
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