Citi maintains buy rating on Australia's Seek saying weakness remains cyclical, not structural
13/08/2026 19:43
BUZZ-Citi maintains buy rating on Australia's Seek saying weakness remains cyclical, not structural ** Analysts at Citi maintain "buy" rating on Australia's Seek SEK.AX with a target price of A$19
** Brokerage says co's weaker FY27 profit guidance on Wednesday mainly reflects softer job volumes and higher depreciation and amortisation expenses stemming from changes to useful life assumptions rather than underlying operating weakness
** Citi cuts FY27 and FY28 core NPAT forecasts by 12% and 10%, respectively, but says stronger-than-expected yield growth and disciplined cost management support its positive view
** Nine of 13 analysts rate the stock "buy" or higher, four "hold"; their median PT is A$19.15 - LSEG data
** As of last close, stock down 39.8% YTD
(Reporting by Roshan Thomas in Bengaluru)
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Citi maintains buy rating on Australia's Seek saying weakness remains cyclical, not structural
Australia's SEEK slips as FY27 earnings outlook misses market view
Australia's SEEK slips as FY27 earnings outlook misses market view
Brief: Seek Ltd Sees FY27 EBITDA Of About A$530M-A$580M