Bell Potter downgrades Seek to hold after 45% slide, cuts target to $15.20
AI Market Summary
Bell Potter downgraded Seek to Hold and cut its target after FY26 results met expectations but forward guidance pointed to mid-single-digit ANZ volume declines and softer earnings ranges. The broker lowered EPS forecasts, citing macro headwinds and limited near-term visibility on a jobs recovery. A planned asset sell-down and potential capital return is supportive, but timing uncertainty keeps sentiment cautious.
Impact level
● Medium
Affected assets
NCSKS2USD/USDT+0.54%
AI Insight · NCSKS2USD/USDTAI Insight
▼ Bearish
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Bell Potter has downgraded Australian job listings platform Seek after the stock fell 45% over the past 12 months. The broker said Seek’s FY 2026 result was broadly in line with expectations, with adjusted EPS up 29% to 56cps and a full-year dividend of 52cps. However, it flagged a weaker outlook, with ANZ volumes expected to decline at a midsingle-digit rate and guidance calling for net revenue of $1.21b$1.28b and adjusted profit for $185m $215m.
