0035 GMT - Seek's bull at Macquarie is confident that near-term interest-rate cuts will stoke job ad volumes and boost the Australian classifieds provider. An analyst note says that Seek remains the investment bank's preferred exposure to the local rate cuts widely anticipated to occur in 2025. The note points to a high historic correlation between rate cuts and ad volumes, with continued low unemployment likely to be a supporting factor. The bank's analysts are cautious on Seek's Asian business, but see lower operating leverage rather than any earnings risk. Macquarie cuts its target price 11% to A$25.00 but keeps an outperform rating on the stock, which is up 2.7% at A$22.29. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 19:36 ET (00:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。