Morningstar ups fair value estimate on Australia's Seek on Latam assets sale

SEEK

05/06/2024 19:44

** Morningstar raises fair value estimate for employment
marketplace firm Seek  SEK.AX  by 5% to A$20/shr following the
sale of Latin American businesses
    ** Brokerage says fair value estimate increase due to
expectations of stronger execution in co's core markets
following the sale
    ** Morningstar says Seek's exit from Latin America is the
culmination of unsuccessful attempts to build a presence lasting
over a decade
    ** Brokerage attributes co's failure in Latam to lack of a
first-mover advantage, as it had in Australia and New Zealand
    ** Eight of 13 analysts rate the stock "buy" or higher,
three "hold" and two "sell"; their median PT is A$27.60 - LSEG
data
    ** Stock down ~11% YTD, as of last close
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))