Airtasker's 2Q trading update highlighted underlying momentum for the domestic marketplace and pointed to early stages of offshore growth, according to Morgans.

Revenue and gross marketplace volume (GMV) for the 1H exceeded the analyst's forecasts by around 10%. A reduction in cash burn for the 2Q was also considered a highlight.

Only slight changes are made to the broker's forecasts, and the target slips to 90c from 95c due to an increased in the assumed risk free rate. Add.

Sector: Media.

Target price is $0.90.Current Price is $0.35. Difference: $0.55 - (brackets indicate current price is over target). If ART meets the Morgans target it will return approximately 61% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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