Seek Keeps Bull Despite Softening Ad Volumes -- Market Talk

Dow Jones
06/15

0457 GMT - Seek keeps its bull at Bell Potter despite softer job ad volumes. Analyst Michael Ardrey acknowledges the potential that the Reserve Bank of Australia may raise interest-rates again, which would be a further headwind for jobs growth. However, he notes some commentary from economists that soft recent data could mean that the cash rate has peaked at its current 4.35%. While offering no commentary on the likely path for rates, Ardrey tells clients in a note that employment-marketplace operator Seek is his preferred rate-sensitive exposure among Australian classifieds. He keeps a buy rating on the stock but lowers his target price by 22% to 18.60 Australian dollars on moderated earnings forecasts. Shares are up 1.6% at A$13.895. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

June 15, 2026 00:57 ET (04:57 GMT)

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