Seek Bull Feels Positive on Australian Ad Volumes -- Market Talk

Dow Jones
2025/06/23

0046 GMT - Seek's bull at Bell Potter reckons that the Australian job advertiser's local volumes are tracking ahead of expectations. Analyst Michel Ardrey looks at Seek's May ad-index data and concludes that the company's Australian listings volumes are down by 9.9% on-year for the first 11 months of fiscal 2025. This compares with his prior estimate of an 11% decline. Ardrey rolls back recent moderations to his assumptions related to tariff-driven uncertainty, telling clients in a note that he is lifting his EPS forecasts. Bell Potter lifts its target price by 10% to A$28.40 and keeps a buy rating on the stock, which is down 1.0% at A$23.745. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

June 22, 2025 20:46 ET (00:46 GMT)

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