In the wake of Seek’s 1H result, which exceeded consensus revenue forecasts by 4%, Morgans lifts FY22 and FY23 EPS forecasts after also factoring-in upwardly-revised guidance. The target price rises to $32.33 from $31.73.
Aided by record job advertisements and depth penetration, Seek A&NZ put in a very strong performance, highlights the analyst.
The broker estimates margin upside will be constrained by an investment pull-forward and retains a Hold rating.
Sector: Commercial & Professional Services.
Target price is $32.33.Current Price is $29.47. Difference: $2.86 – (brackets indicate current price is over target). If SEK meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
