Powell’s speech, Nvidia’s chips, Meta deal - what’s moving markets
Investing.com - Jefferies upgraded Seek Ltd (ASX:SEK) (OTC:SKLTF) stock rating from Hold to Buy and raised its price target to AUD32.00 from AUD24.60.
The upgrade comes as Jefferies anticipates margin expansion for the employment marketplace in the second half of fiscal year 2025, noting that Seek is committed to operating leverage.
Jefferies highlighted Seek’s strong yield growth despite significant declines in volumes and the introduction of freemium models in its Asian markets.
The firm also cited a stabilizing macroeconomic environment as a factor supporting the more positive outlook for the company.
Jefferies considers Seek’s valuation reasonable, noting that the stock trades at 38 times price-to-earnings excluding SGF (Seek Growth Fund), with earnings per share growth projected at 20-25%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.