Australia's Seek jumps after Jefferies upgrades to 'buy', hikes PT

SEEK

20/08/2025 05:37

Updates

** Shares of online job marketplace provider Seek SEK.AX advance as much as 4.6% to A$28.99, their highest since early April 2022

** Stock set for sixth consecutive session of gains

** Jefferies upgrades stock to "buy" from "hold", raises price target to A$32/share from A$24.60/share

** Brokerage cites co's margin expansion in the second half of the year, strong yield growth and a stabilising macro environment for the rating upgrade

** Co forecasts higher profit and revenue for FY26; Jefferies says FY25 net profit after tax and midpoint of FY26 projection align with consensus estimates

** Jefferies hikes FY26 and FY27 EPS estimates by 11.5% and 14.7%, respectively

** Analysts on avg rate the stock "buy"; their median PT is A$29.0, according to data compiled by LSEG

** Stock last up 2.6%, takes YTD gains to 26%

 (Reporting by John Biju and Kumar Tanishk in Bengaluru)

 ((John.Biju@thomsonreuters.com;))