Appen upgraded to Speculative Buy from Hold at Canaccord

Canaccord analyst Conor O’Prey upgraded Appen to Speculative Buy from Hold with a price target of A$0.80, up from A$0.60. Appen’s June quarterly update “demonstrates that there is life after Google” as revenues recovered strongly towards the end of the quarter, notes the analyst, who adds that an improved trajectory in revenues means the cash flow profile improves as well.