Craig-Hallum bullish on Innodata, initiates with a Buy

As previously reported, Craig-Hallum analyst George Sutton initiated coverage of Innodata with a Buy rating and $23 price target. The firm believes Innodata is an underappreciated picks and shovels GenAI play that is poised for sustainable mid-20% profitable growth over the medium term. Expansions with its largest customer speaks to the quality of Innodata’s work and provides confidence in the company’s ability to expand with other existing customers over time and take advantage of the surge in demand for the types of services that Innodata provides, Craig-Hallum argues.