SEK - Citi rates the stock as Sell
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Australia's employment cycle is a driver of earnings growth, despite the company's continued investment in Asia, Citi notes.
The broker remains cautious about the entire Australian internet sector because of full valuations. The view on Seek is also affected by rising capital expenditure, and Citi suspects the peak in Australian job ads is nigh.
Sell rating maintained. Target rises to $15.10 from $15.00.
Sector: Commercial & Professional Services.
Target price is $15.10.Current Price is $19.96. Difference: ($4.86) - (brackets indicate current price is over target). If SEK meets the Citi target it will return approximately -32% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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