Australia's Seek gains as Macquarie raises PT after Xref deal

SEEK

15/10/2024 24:41

** Shares of Australia's Seek  SEK.AX  rise as much as 1.1%
to A$25.52
    ** Stock hits highest since late March after analysts at
Macquarie raise PT by 12% to A$28
    ** SEK on Monday said it had entered an exclusive due
diligence to buyout HR and recruitment tech firm Xref  XF1.AX 
for A$45 million  ($30.27 million)
    ** Macquarie says the potential deal is consistent with
SEK's strategy and XRef could broader co's platform on this
regard
    ** Brokerage says SEEK's three-year outlook from a yield,
margin and soon-to-be volume are all turning more positive,
retains "outperform" rating
    ** XF1 shares were trading flat
    ** SEK has fallen 5.6% this year as of last close 


($1 = 1.4868 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))