The Airtasker business remains well on track to deliver its guidance to be free cash flow (FCF) positive for FY24, notes Morgans, after reviewing the company's 4Q trading update.

The analyst highlights an increased monetisation rate as well as a generation of free cash flow for the second consecutive quarter, as well as an improved posted task performance across its marketplaces.

Airtasker's offshore marketplaces are still gaining momentum, notes the broker, particularly the UK post the media-for-equity deal.

The Add rating and 54c target are unchanged.

Sector: Media.

Target price is $0.54.Current Price is $0.25. Difference: $0.30 - (brackets indicate current price is over target). If ART meets the Morgans target it will return approximately 55% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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