Macquarie Stays Cautious on Seek Amid Rates Uncertainty -- Market Talk

0256 GMT - Macquarie analysts want certainty about where Australia's interest rates and unemployment are likely to peak before turning more positive on job advertiser Seek. Another factor that could form a more constructive view of the ASX-listed business is an improvement in job ad listings, which they expect to fall by about 1% on year in fiscal 2027. Seek remains Macquarie's least-preferred ASX-listed classifieds provider due to risks around listings volumes. The Macquarie analysts tell clients in a note that they expect an adjusted net profit for Seek's most recent fiscal year, which ended June 30, of A$199 million. This is at the lower end of guidance, they observe. Macquarie stays neutral on the stock and cuts its target price 12.5% to 15.75 Australian dollars. Shares are up 4.0% at A$14.62. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 28, 2026 22:56 ET (02:56 GMT)