0132 GMT - Seek's bull at Citi thinks expectations for the Australian job advertiser's FY 2028 are tied to growth in ad volumes. Analyst Siraj Ahmed expects consensus for FY 2027 earnings and profit to fall on Seek's lower-than-expected guidance. Looking another year ahead, new guidance for a 5% limit on annual operating-cost growth means he anticipates only limited changes to FY 2028 forecasts. However, he warns clients in a note that this is two years away and that forecasts hinge on volume growth. Citi has a last-published buy rating on the stock and a target price of 18.80 Australian dollars. Shares are down 15% at A$13.655, a two-week low.